Run for your lives! This is the response of the Greek youth graduated from the crisis and the stacking of austerity since early 2010. Examples abound. The Goethe Institute in Athens is facing a 70% increase in enrollment in German courses. A recruiting office in Northern Ireland offers young Greek, says Athens News, collect mushrooms or work in aquatic farms. A conference on migration to Australia by invitation only-recently gathered 1000 graduates (even though only 100 Greeks settled in the island-continent in 2010).
The Greeks want to leave their countries in crisis, but it is not seen in official statistics."Based on preliminary figures available, we observe no increase in emigration in Greece in 2010," notes Jonathan Chaloff, migration expert at the OECD, based on information provided by the U.S., Australian, Canadian or Swedish. "There is indeed a great desire to emigrate, but the obstacles are real: the language barrier, recognition of qualifications, etc..," Said he.
More border, more control
This is not the only reason why migration flows are difficult to perceive. "Young Greeks are mainly the countries of the European Union," Lois Labrianidis point, Professor of Economics at the University of Thessaloniki."But as there is no boundary or control, you can not count these departures." The researcher is a hint: the Greeks entered in the European Internet portal EURES CV exploded in 2011, reaching 15,500, two times the total recorded since its inception in 1993.
Young people fleeing a country they consider no future. "The dynamics of the labor market is worrying. The unemployment rate reached 16%, up 50% from 2010. And for young people is twice (30%), "notes Manon Domingues Dos Santos, migration specialist at the University Paris-Est Marne-La-Vallée. "In this context, the most qualified are the most mobile: they speak foreign languages and better meet the needs of labor in host countries."
The crisis accelerates a phenomenon of brain drain that affects Greece for at least 10 years.At the edge of recession, in 2007, already 12.2% of the most educated Greeks living abroad, or at least 876,000 people. This figure is just swell: already during this period, more than 4.5% of graduates were leaving Greece every year, according to figures compiled by Frédéric Docquier, a professor at the University of Louvain. This is much less than Portugal (over 12%) but almost twice as Spain, also in crisis countries. In comparison, only 1.31% of French graduates leave the country.
Herding phenomenon
View from the best-trained its elites to broader horizons, such is the fate of small countries like Ireland or Lithuania. "Greece, however, could prove to be a special case, said Frédéric Docquier. It is in near-bankruptcy.They may therefore develops a herd phenomenon: if the elites and the most qualified anticipate the crisis and with rigor, everyone will leave the country when you leave you too. "
Problem: well-trained elites are among the taxpayers most likely to pay high taxes. Leaving their country, they will not settle the affairs of the state. In the longer term, "the departure of more skilled threatens growth by detracting from the production of research and innovation," Manon Domingues Dos Santos is concerned.
Greece, which was over twenty years, between 50 and 70 years, a land of emigration, however, tries to take advantage of its diaspora. The government has proposed this year to Greeks abroad to finance its debt to the tune of 3 billion euros.
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"SPECIAL – Depression, fear of debt
Since the beginning of the week, investors in Europe and the United States, is won over by a wave of optimism about the outcome of the crisis of sovereign debt. The CAC 40 jumped 5.74% on Tuesday to finish the session at 3023.38 points, aligning a third straight session rebound. Another encouraging sign is the trading volumes are recovering. Yesterday more than 4 billion changed hands on the great values of the Paris stock exchange.
Other major European markets rose in unison. The Dax in Frankfurt Stock Exchange gained 5.29% and 4.02% London FTSE. And the European indices, the Eurostoxx 50 was up 5.06%. "The anguish of Greece, who were greatly exaggerated, have finally subsided a bit," said one operator.A Wall Street as investors watch with great attention the developments of the rise of public finances in Europe, the relief was also needed. Sitting in the Dow Jones advanced 2.27% and the Nasdaq 2.18%.
"Investors have decided to give credit to European and international policy makers in their efforts to find ways to resolve the crisis of sovereign debt," explained economists broker Aurel BGC. There are "high hopes that one is engaged in the right direction towards resolving the debt crisis in Europe," agreed analysts at LBBW in Frankfurt. Other analysts, however, want to caution, as the strategists of the Crédit Mutuel-CIC who believe that the upturn may not last and that the rumors that stir the markets are certainly still "exaggerated."For them, the hypothesis of the expansion means the European support fund for countries in trouble (EFSF), which propels the securities of banks for several days, "does not solve the structural problems in Europe."
According to the spokesperson of European Commissioner for Economic Affairs Olli Rehn, Europe is considering strengthening the capacity of the European support fund for countries in trouble (EFSF). Rumors press also reported a proposed quadrupling of the Fund's lending capacity to 2000 billion euros. In turn, an official of the ECB, the Austrian Ewald Nowotny, did not rule out declines in interest rates in the euro area.But soon, the German Finance Minister Wolfgang Schäuble assured that Europeans had "no intention of bailing out" the EFSF and called the hypothesis of totally "stupid."
Absent for several weeks, the good news poured in yesterday from Europe and the United States.
On the Old Continent, first. Jean-Claude Juncker, the leader of the finance ministers of the euro area has confirmed the return of the troika, bringing the European Union, the ECB and the IMF, major donors of Greece, by Thursday Athens, which could allow the release of a new tranche of EUR 8 billion, which is vital for the country. At the same time discontent rises and Athens was again paralyzed Tuesday by a wave of strikes in public transport.
Good news also in the United States, in the still under close surveillance of the property.House prices in the twenty largest U.S. cities have stabilized in July, according to Case-Shiller survey.
In Paris, banking stocks, on the front line since the beginning of the sovereign debt crisis, have literally flown the hope of a breakthrough in the situation in Greece.
Societe Generale, had a spectacular end of the session, jumping nearly 17%. For its part, BNP Paribas was awarded 14.15% and Credit Agricole was up 13.10%.
Oil opened up in New York
The euro was weakening on Tuesday to below $ 1.35. In session, the euro stood at 1.3496 dollars, against 1.3523 dollars late Monday.He had fallen in session Monday to 1.3363 dollars, its lowest level since mid-January, prior to recover.
As for commodities, gold has recovered slightly this morning at 1640 dollars an ounce after declining over the last three sessions. Oil evolved soaring Tuesday at the opening in New York, driven by renewed optimism for the determination of the Europeans to resolve the debt crisis in the eurozone. On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for November delivery traded at 82.64 dollars, up by $ 2.40 at the close on Monday night.
Greece:
In the aftermath of yet another meeting "for nothing" between the finance ministers of the euro area, said Baroin continue to trust in Greece. And, while 68% of the French disapprove of the increase in French contribution to the rescue of Greece, according to a poll Ifop. "Greece knows what she has to us, insists Baroin, invited the Grand Rendez-vous Europe 1-i> Tele-Le Parisien. We have said it, she has commitments, duties vis-à-vis its creditors, it has the requirement to provide answers. "
While Europe still can not agree to release the 158 billion pledged to Greece on July 21, Baroin announced that the European Stability Fund would be active in mid-October . "The agreement of July 21, expands the interventions of European fund, says he. It enables him to act in advance.This tool is good, just it is not yet implemented. We need the European Parliaments vote, and all Parliaments have given a date. " For him, this fund is not intended to please the Greeks but to save the euro.
Banks:
Former colleagues in government Fillon and Christine Lagarde Baroin do not seem to take the same position on the banks, now that the former Minister of Economy and Finance has been leading the International Monetary Fund. Three weeks ago, Christine Lagarde, sounded the alarm and called for "urgent recapitalization" of banks.
Europe 1, Baroin, sought reassurance, noting that "central banks assured liquidity to ensure any problems.This means that the question 'Are there any cash flow problems?', The answer is no and the question 'Is there a solvency problem?', The answer is no. We are not worried. " And to the question: 'Should we recapitalize European banks? "The finance minister said," They already recapitalize since 2008. They increased their capital by 50 billion euros, "said he.
Growth:
While the European Commission Thursday lowered its forecast for French growth to 1.6% in 2011, Baroin assured that the growth target of 1.75% this year was achievable. "We were on a line at 2%. It was fixed at 1.75% and we have reasonable grounds for regarding it's achievable. There will not exceed one euro in terms of deficit compared to what we have taken as a commitment. "
Budget 2012:
"Demanding".That's how Baroin defined the 2012 budget to be presented Sept. 28. While the opposition calls for a recovery plan, the finance minister was adamant. "I am convinced that a recovery would have an adverse effect in the current financial situation. In a long-term strategy, which should take us in 2013 to 3% deficit, we can not afford us the luxury to satisfy such demand, such as department or lobby, "he said.
Economic project of the Socialist Party:
Finally, the finance minister has been very critical of the socialist project. "The project of the Socialist Party fell.They need to throw in the trash, they must forget their plan to create jobs and increase public more than 50 billion taxes, "he said, saying the government side," It is not about one second of a general increase in taxes. "
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Car manufacturers ultra-luxurious living on another planet. The downside risks, of concern to general groups, do not seem to disturb them. Concessions in the Ferrari, "consumers are not worried about a recession. The last I saw did not look desperate, "said Sergio Marchionne, the CEO of Fiat, at the Frankfurt Motor Show.
The Prancing Horse brand also provides for a new record this year by selling 7,000 cars, against 6,570 last year. Ferrari is also counting on a profit before tax "significant", following an increase of 23% in 2010 to 302 million euros. "I'm not worried because we have quality, exclusivity, a strong brand and innovative technology," said its president, Luca Cordero di Montezemolo.
It is the only one to be extremely confident.Rolls-Royce (BMW Group), whose boss, Torsten Mueller-Oetvoes, said he was "optimistic" about prospects for its niche, also wants to exceed its historical performance of last year (2711 cars). The luxury brand will invest 11.4 million euros to expand its plant in Goodwood English and plans to increase its network from 85 to 100 outlets.
Buyers richer
Sales of the major European luxury brands (Maserati, Lamborghini, Ferrari, Bentley, Rolls-Royce and Aston Martin) are expected to jump 19% this year to 28,100 vehicles, and increase by 13% in 2012, according to a study by IHS Automotive no checking account payday advance. "The rich are becoming richer, and the number of millionaires in emerging and growing. It is a very positive trend "for specialists in this niche, says Erich Hauser, an analyst at Credit Suisse agency quoted Bloomberg.For him, "should things go really bad" for the champions of this market find themselves in difficulty.
The ultra-premium segment should be able to pass through an economic downturn better than in the previous crisis, which saw sales of certain brands to collapse, says the CEO of Rolls-Royce. "This market is growing steadily since its low point in 2009" but "we are aware that there are risks," acknowledges, however, Stephan Winkelmann, Lamborghini's boss. But for now, the Italian brand of the Volkswagen group does not seem to fear a decline in the purchasing power of its wealthy clients. It will produce 20 Sesto Elemento for early 2013. Their price: 1.6 million euro.
This time, the Fininvest will have to pay. The court sentenced him on Saturday appealed the group owned by Silvio Berlusconi to pay 560 million euros in the CIR group, owned by Carlo de Benedetti. The judges of the Court of Appeal of Milan have found that control of the publisher Mondadori, obtained in 1991 by Fininvest, to the detriment of the EIF through a favorable court decision, was made possible by the corruption of judge and lawyers involved. In 2007, the Criminal Justice had issued a similar notice, including the judge sentenced Vottorio Metta was stationed in nearly three years in prison.
On appeal, the Milan judges, however, have reduced the scale of the financial penalty, determined in the first instance to 750 million euros.Unlike 2007, the decision will also be immediately enforceable: Fininvest will address 560 million euros in damages without waiting for the trial to the Supreme Court that the group should seek. "Our lawyers are already beginning to study the complaint," has indeed responded Marina Berlusconi, the eldest daughter of the Head of Government and president of Fininvest. This assesses the amount of the penalty "to double the participation of Fininvest in Mondadori guaranteed fast personal loans."
Electoral setback and legal troubles
The Cavaliere had nevertheless worked hard to save the payment of such penalty to the group. Approaching the verdict, he did not hesitate to try to vote by Parliament an amendment to the Civil Code suspending sanctions in excess of 20 million euros on appeal, until the final decision of the court of Cassation.A measure to be adopted in the Bill ratifying the austerity plan. Faced with the outcry in the opinion of this measure, the Cavaliere has this week backed down.
This decision is more bad news for the chairman, who combines political defeats in recent months and legal troubles. Also implicated in the "Rubygate" Silvio Berlusconi suffered a severe mid-June electoral setback. The Italians have indeed overwhelmingly (over 94%) rejected four bills proposed by his government and put to a referendum: one devoted to the construction of new nuclear power stations, one on the privatization of water management by municipalities, and two providing legal immunity of ministers and the chairman of the board. Silvio Berlusconi, who announced Friday he would not stand in 2013, probably did not finish with the law.
U.S. stock markets are evolving around the balance on Thursday. The Dow Jones gained 0.05% to 11,902.68 points, the S & P 500 gained 0.15% to 1267.31 points while the Nasdaq lost 0.05% to 2630.11 points Wednesday, the NYSE has ended a marked decrease, yielding again to concerns about debt and undermined by several Greek statistics bad omen.
Markets should remain very fragile on Thursday while the situation in Greece and the proceedings were mired up in the country without the euro zone will reach a solution firm. Greek Prime Minister George Papandreou on Wednesday announced a reshuffle of his government to be held this Thursday, the day he will ask for a confidence vote in Parliament.
Meanwhile the weekly jobless
In the wake of heightened tensions, the euro retreated against the dollar ever.In the afternoon in Paris, the European single currency was worth 1.4147 dollars against 1.4182 dollars late Wednesday, after falling to 1.4090 dollars in the morning, the lowest since three weeks.
Meanwhile, oil prices continued to fall at the opening in New York, losing 14 cents a barrel to 94.67 dollars despite indicators better than expected in the U.S., a market increasingly nervous about the magnitude of the crisis in Greece. That of Brent North Sea crude for delivery same progressed from 99 cents to 114 dollars.Investors buy oil after the sharp decline yesterday, which saw prices go below $ 95 a barrel.
However, there is good news on the macroeconomic front:
– New jobless claims fell more than expected in the United States, where 414,000 applications for grants were submitted from June 5 to 11 – a drop of 4% from last week.Analysts had expected 421,000 new registrations.
– The housing starts and building permits issued in the U.S. are starting to rebound in May, increasing by 8.7% and 3.5%, according to figures released Thursday by the Commerce Department.
However, the deficit of the balance of current accounts of the United States has widened in the first quarter to 119.3 billion against $ 112.2 billion the previous quarter, according to figures released Thursday by the Commerce Department.
Boeing revises its forecasts upwards
Boeing: 0.77% to 74.42 dollars
Side firms, Boeing announced Thursday forecast revised upwards for the global market for airliners in 2030, which should be driven in particular by the renewal of the fleets of airlines seeking fuel-efficient aircraft.By that date, Boeing now expects a volume of 33,500 new units sold, all manufacturers combined, for a total estimated at more than 4,000 billion dollars.
Caterpillar: 0.76% to 96.38 dollars
The world's leading manufacturer of construction equipment, Caterpillar, will launch this year the construction of a factory in Thailand, he announced Thursday. The factory, covering an area of 40,000 m2, will begin production late 2013 and employ about 900 people.
IBM: +0.19% to 162.64 dollars, Apple +0.17% to 327.30 dollars
The computer giant IBM, which was responsible for several technological revolutions that led to the modern computer, is celebrating its 100th birthday this Thursday by showing a great vitality, even if no longer domination that was his.With $ 197 billion market capitalization, IBM is the 14th global value, behind Apple (304 billion U.S. dollars) but close to Microsoft ($ 201 billion).
Ford: -0.20% to 13.12 dollars
The automaker Ford has dampened the market in providing for the second quarter results "equal or slightly lower" than in the first quarter, less than analysts were waiting, mostly because of rising costs.
Johnson & Johnson: -0.24% to $ 66
Always on the side of values, Johnson & Johnson, through its subsidiary Cordis announced discontinuation of development of its prosthetic heart stent Nevo to "concentrate on other cardiovascular therapies for which significant needs exist for patients" .Given this decision, the group should record a second quarter restructuring charge after tax of between 500 and 600 million dollars.
Autozone: +0.08% to 289.79 dollars
The board of directors has approved an extension Autozone's share buyback program of approximately 500 million additional shares.
CLARCOR: 1.92% to 44.08 dollars
CLARCOR issued for the second quarter of its fiscal year, ended May 28, revenues increased 12% to $ 288.5 million. Net income stood at $ 32.8 million, against a profit of $ 23.9 million a year earlier.
Owens-Illinois: -2.35% to 24.94 dollars
Owens-Illinois reduced its earnings forecast for the second quarter. The group was counting on previous results in line with those of the previous year.It now expects that its quarterly earnings will decline over one year.
SunPower: -0.91% to $ 17.50
Also note, Total has completed its friendly takeover bid of about $ 1.3 billion U.S. dollars on SunPower, a majority of shareholders of the company specialized in solar panels have agreed to tender their shares.
The state last year paid 46.6 billion euros in pension pensions to former civil servants. 13% of its running costs! This amount is however lower by almost 1 billion forecast. Two explanations for this, says an "annual performance report" posted by the Department of Budget: lower inflation than expected, so a smaller pension increases, and fewer than expected new retirees.
Only 70,100 civil servants have retired last year, where an assumption of 77,800 was used. In 2009 already, the 68,000 starts recorded (after 81,000 in 2008 and 2009) were below projections. But a "behavior change" occurred in mid-2009 that Bercy attributed to three phenomena.First, the 2003 reform, which requires officials to work longer for a full pension (since 2008, they have validated many quarters that private sector employees: 40 years for those born in 1948, which term will gradually raised to 41 years and a quarter for those born in 1953 and after). Then the crisis, which could push workers to postpone their departure – those whose spouse or children working in the private sector therefore at risk of unemployment, can you imagine, for example. Finally, "pending categorical measures": the revaluations of this or that body have increased since the beginning of the quinquennium, under the promise of Nicolas Sarkozy to "give back" to staff the savings generated by the non-replacement one out of two.
The end of "ages cleavers"
The Superannuation is calculated on their six months salary, a "nudge" decided during this period may lead to a significant increase in pension, they will benefit throughout their retirement!
Ultimately, the age of retirement from 58 years and 8 months in 2004 to 59 years and 9 months and a half (he is 61 years and 7 months for private sector employees). This average excludes the disabled and mothers of three children, likely to leave at any age. However it covers the categories of "active" (firefighters, police officers, prison guards, air traffic controllers, who can go so far from 50 or 55 years), who quit work an average of 56 years and 7 months, and other agents who remain in office until almost 61 years. For the military, the departures were a little higher than expected (13,000 instead of 12,000).The average retirement age rises too, but since 2006 only: it is past 45 years and 3 months to 46 years and seven months last year.
Finally, another report indicates that the reform of special diets in late 2007, also produces its effects, especially at the station with the late "ages cleavers" causing a retreat setting automatically "only half of the agents SNCF able to retire in 2010 actually did. "
U.S. equity markets remain in the green Thursday after finished up Wednesday. At closing, the Dow Jones advance of 0.36% at 12,605 points, the Nasdaq climbed 0.30% to 2823 dollars and the S & P up 0.22% to 1344 dollars.
Bad news on housing front
On the macroeconomic front, good news came on the side of the job: the weekly jobless claims declined in the United States during the week to May 14, at 409 000 438 000 cons (revised) the previous week, said Thursday Department of Labor. Economists on average had expected 420,000 registered unemployed.
In contrast, the index of business conditions from the Federal Reserve Bank of Philadelphia came out sharply lower in May and has largely missed expectations, reaching its lowest level since October 2010. This index falls to 3.9 in May against 18.5 in April.Similarly, sales of existing homes fell against all odds in the U.S., 0.8% in April compared to March to 5.05 million units annualized, announced Thursday the National Association of Agents Real Estate (NAR). Economists polled by Reuters expecting an increase of 2% to 5.20 million
Oil, which flirted with $ 100 in early trading, fell as a result of this bad news. On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for June delivery ended at 98.44 dollars, down 1.66 dollars compared to the previous day.
Morale is not the highest in the markets since the announcement of the coming recession in Japan. The gross domestic product (GDP) of the Archipelago fell 0.9% in first quarter 2011 compared to the previous (-3.7% annualized).This dip in economic activity is related to the earthquake and tsunami of 11 March.
Side currency, the euro rose sharply against the dollar at the dollar closed at 1.4309 dollars against 1.4236 late Wednesday.
LinkedIn flew more than 130%
Ford (-0.07% at 15.11 dollars) and Automotive Components Holdings sold their fuel tanks in Michigan at Inergy Automotive Systems.
In the same sector, General Motors (-0.25% to 31.44 dollars) has announced it intends to produce 60,000 Chevy Volt next year, or 30% more than was initially anticipated. To increase the production rate, it will first close the plant for four weeks in June.The U.S. has thus positioning itself to Nissan, which will not produce more than 20,000 Leaf its electric models in the U.S. until 2013.
Moreover, according to Bloomberg, Chrysler (pay its debt of 7.5 billion dollars in U.S. government and Canada early next week. The Italian Fiat will open the way to mount a capital of Chrysler, up 46% , against the 30% stake today.
A panel of experts advising the European Commission recommended a stricter location data recorded by mobile smartphones.Apple (+0.19% to 340.53 dollars) and Google (+0.27% to 531.25 dollars) are on the front line.
Limited Brands (-3.89% to 40.80 dollars) posted earnings per share (EPS) in the first quarter against $ 0.4 $ 0.39 $ 0.25 and waited a year earlier, and that a turnover of 2.2 billion, up 14.8%. For the current quarter, the group expects an EPS of 0.38 to $ 0.43 against $ 0.36 last year.
Also note, the SEC, Constable American markets, has opened an investigation into possible failures of computers on several stock exchanges, the Financial Times. U.S. markets Constable believes that internal controls are inadequate in many operators, including Nasdaq.This type of failure could be the cause of Krack flash occurred on Wall Street in May 2010.
Furthermore, the professional network LinkedIn (108.20% to 93.80 dollars) managed his first steps on the Exchange. In a statement, the company stated that it had placed 7.84 million shares at a price of 45 dollars, while it provided a range between 42 and 45 dollars. These total $ 352.8 million. In detail, 4.828 million shares were sold by the company, which raises and $ 217 million, while existing shareholders have sold a little over 3 million titles.
Latin America is the region where foreign capital has increased the most last year – 40% – totaling $ 113 billion. And this in a global context where, for the first time, emerging economies exceed developed countries in terms of FDI (foreign direct investments), with 53%, says a report by the Economic Commission for Latin America UN (CEPAL).
In two years, from 2007 to 2010, the share of Latin American countries has doubled, from 5 to 10%.Brazil remains the locomotive of the continent, buoyed by a market of 190 million inhabitants, significant mineral and oil resources and the organization of two major sporting events, World Cup and the Olympics.
Between 2009 and 2010, FDI was almost doubled in that country to $ 48.5 billion, followed by Mexico (17.7), Chile (15.1 billion), Peru (7, 3), Colombia (6.8) and Argentina (5.2). "The first four have good credit rating credit rating agencies. In contrast, Argentina is penalized by a poor image, linked to the debt problem and the continuing dispute with the Paris Club.Its sovereign rating is a bit harsh and does not reflect economic fundamentals, "notes Bénédicte Baduel, Natixis.
Temperature Alert
Venezuela and Ecuador, the very dirigiste regimes of Hugo Chavez and Rafael Correa, who made numerous nationalizations, investors cool. The novelty of the year, also notes the CEPAL, the growing weight of China, who arrived with nearly $ 15 billion spent on mergers and acquisitions, third (9% of investments), behind United States (17%) and Netherlands (13%). Almost all concentrated in the exploitation of natural resources to fuel its growth.
The Executive Secretary of CEPAL, Alicia Barcena, the rest has warned against an excessive concentration of FDI in this sector."We are concerned because we are witnessing a reprimarisation economies," she said, lamenting the lack of investment in industry, technology and services. This is also explained by the sharp appreciation of currencies – the Brazilian real has gained almost 40% in two years – which makes them less competitive manufactured goods.
Despite the risk of overheating, fueled by a surge in capital inflows and a surge in inflation, the United Nations expect a rise of 15 to 25% of FDI in 2011 across the continent.
An egg purple symbolizes the new union between Alstom Transport and RATP. According to its creators, it should bloom in two years, during the presentation of the train driver "automatic subway of the future."
Pierre Mongin, president of the RATP, and Philippe Mellier, his counterpart of Alstom Transport, said Tuesday in Dubai, which is the international exhibition of public transport, creating a business research and development expert in automatic metro .Metrolab, equally owned by both companies, has a few tens of millions of euros to develop by 2013 a prototype automated metro.
With Metrolab, Alstom and RATP will "provide solutions to large communities fully automated urban and suburban transport, and develop complete systems, including infrastructure, rolling stock, signals, passenger information, operation and maintenance.
A promising market
Fifteen experts from both companies attached to it. "We will draw together the underground of the twenty-Philippe Mellier ensures, for whom this new company is promising. The global market for automatic metro is 13 billion euros by 2015.This is the first time a joint venture is created in this specialty. "
"The creation of Greater Paris has served as a trigger to our approach," said Pierre Mongin. Usually, the RATP buys its equipment from Alstom, a leading provider, or other. Now is the Society of Greater Paris who will choose his equipment. "For the first time, we move from the position of buyer to the producer," says the boss of the authority, which campaigns for a new automatic line to extend up to 14 airports in Paris. "But we do not want to venture into a job that is not ours, says Mongin. We took the best and most powerful. "
Together, both partners share 70 years of experience in public transport. According to them, only the AGT is able to respond to congestion problems encountered in large cities."It's the only problem-solving capabilities, ensures Pierre Mongin. If you want to increase their speed, simply press a button. It reduces the waiting time between trains safely and is able to operate with existing infrastructure round the clock. "RATP has been the experience in Paris: after line 14, she began to automate line 1.
Alstom and RATP have undertaken projects in Singapore, Lausanne, Cairo, Shanghai, Caracas. They hope that the Greater Paris added to the list.
