The head of the Italian Government is committed to the adoption by Parliament before Nov. 15 its plan to revive growth, the first stage at least. The measures were approved Wednesday by the Cabinet. Among the main liberalization of regulated professions and local public services, commitment to gradually raise the retirement age to 67, administrative simplification, auction of 15 billion euros in property assets of the state in three years.

This plan is in addition to 54 billion budget savings passed in September to restore public finances to balance by 2013, when the deficit reached 3.9% this year.

The first event will be played next week in the Senate.Silvio Berlusconi to seek the confidence for his government. He should get it easily, with a large enough majority in the House. In the process, he will present the text for final approval in the House of Deputies. It will be a different story. On October 15, on another vote, there was obtained the confidence by 316 votes against 301. But since his majority has disintegrated. Six deputies Wednesday, two more have defected Friday. "They will return to their positions," said Silvio Berlusconi in Cannes Friday.

Days numbered for the government

A release is actually unlikely. For four days, the Head of State Giorgio Napolitano multiplies the consultations, calling on all political forces, including opposition to "assume their responsibilities in Europe."

The day before, the CAC 40 sold 1.61% below 3200 points, after about German leaders who are very cautious about a future resolution of the crisis in Europe. The German Minister of Economics Wolfgang Schäuble has indeed warned that the EU summit to be held in Brussels Sunday will not lead to a definitive solution to the debt crisis.And, while the central bankers of the euro zone had promised a response "comprehensive and lasting peace" to the crisis at the G20 finance this weekend in Paris.

Fears of a slowdown in Beijing this must be added the fear of a slowing Chinese economy, which appears in 9.1% in the third quarter, against 9.7% and 9.5 % in the first and second quarter. "Economic growth is currently facing a more complicated on both external and internal plans," said the spokesman for the National Bureau of Statistics (NBS), Sheng Laiyun commenting on the growth of China. In fact, Chinese exporters are beginning to suffer from particular sovereign debt crisis in Europe, their largest market, a difficult economic situation in the United States.The Chinese economy is also impacted by rising wages and strong yuan, has appreciated by 7% in a year against the dollar. "The number of factors of instability and uncertainty increases," says Sheng Laiyun.

On the front of currencies, the euro rose 0.28% to 1.377 dollars on Tuesday. Oil is meanwhile down in Asia after the confirmation of a slowdown in Chinese growth in the third quarter against a backdrop of skepticism about a speedy resolution of sovereign debt crisis in the euro area.The barrel of "light sweet crude" for delivery in November, up in the early electronic trading, lost 9 cents to 86 low fee cash advance.29 dollars, around 6:00.

On the macroeconomic front, Germany, the barometer of confidence in financial circles ZEW is expected in 11 hours.

In Britain publish inflation for the month of September will also punliée.

Spain should in turn issue Treasury Bills 12-18 months, and publish the figures for bad debts of its banks for the month of August.

Values ​​to follow on Tuesday:

• Danone

Group sales in the third quarter were in line with analysts' expectations, and with forecasts recently outlined by the Group CEO, Franck Riboud.Sales for the period to 4805 and spring million, an increase over one year of 10.5% as reported and 5.9% excluding currency effects and changes in structure. The group confirms its 2011 and said he was "confident" in 2012.

• Air France-KLM

The company announced Monday the resignation of its CEO Pierre-Henri Gourgeon, President Jean-Cyril Spinetta regaining his seat as CEO of the Franco-Dutch until the establishment of a real Air France-KLM holding company, postponed current 2013 instead of early 2012.

• L'Oréal

With the guardianship of Liliane Bettencourt, the transfer of power between the L'Oreal heiress and her daughter opened a new era may change the balance of governance of the group as its ties to Nestlé.

• Edenred

The group announced a growth of 11.3% of sales in the third quarter thanks to a very strong activity in Latin America, enabling it to confirm its annual targets.

• LVMH

The group reported organic growth of 15% to 16.30 billion euros in sales in the third quarter, as the first nine months of the year. He felt that his performance since the beginning of the year confirms its confidence for 2011.

• Aéroports de Paris

The company will present the latest figures for passenger traffic.

• Accor

The hotel group will present its turnover in the third quarter after market close.

• NextRadioTV

The group presents its revenues in the third quarter.

Investors cautiously welcomed the determination shown by German Chancellor Angela Merkel, French President Nicolas Sarkozy and Prime Minister of Greece George Papandreou during a conference call Wednesday night to Athens out of the crisis. Same upward trend in other European financial centers: the FTSE-100 wins from 0.67% to 5262.05 points, the FTSE Milan Mib rose 0.69% to 14,264 points and the Dax in Frankfurt rose by 0 , 87% to 5386.86 points.

For now, the markets show their confidence in the ability of the euro area to help Athens to prevent the country are lacking, and is forced out of the single currency. At the end of their conference, the Franco-German and was convinced "that the place of Greece is well and truly in the euro area." But on one condition, also very explicit: "The implementation of strict and effective recovery program of the Greek economy supported by the countries of the euro area and the IMF and which conditions the disbursement of future tranches of the program. "George Papandreou was quick to deceive, confirming" the absolute determination of his government to take all necessary measures to implement all commitments. "For the budget minister Valérie Pécresse, what the Prime Minister of Greece were "reassured" the euro area, she said on Thursday LCI.

The U.S. maintains pressure on Europe

To this, add the announcement of the Brics (Brazil, Russia, India, China and South Africa) said on Wednesday they could increase their holdings of bonds denominated in euros. Brazil has such willingness to participate in a "global effort" against the economic crisis that affects rich countries, said the same day the President of Brazil Dilma Rousseff. The same goes for Russia, which has indicated its willingness to "consider an investment in the new mechanism in the euro area euro if the responsibilities are clearly defined" through its Vice-Minister of Finance.However, Italy, whose rates have soared during bond, has denied media reports that she would have asked China to invest in debt.

U.S. side, however, no way to release the pressure on Europe. It "must do more" in the words of Timothy Geithner, U.S. Treasury Secretary, who must participate in a meeting Friday of finance ministers in Europe. In an interview Wednesday on the financial channel CNBC, he considers, however, that the Europeans "has the capacity" to resolve the crisis, seeing as a good thing that they "recognize that they are late."

Note that Christine Lagarde, Executive Director of the IMF, should give a speech in Washington on "Challenges and solutions for the global economy and the IMF" to 16 hours.While Ben Bernanke, the Fed chairman, should speak at a conference in Washington on the regulation of systemic risk in the early afternoon.

Oil prices continue to fall

On the macroeconomic front, figures on employment in the euro zone for the second quarter are expected, and inflation in August.

In France, the trade deficit is expected to reach 75 billion euros this year, a new sad record after the 56 billion euros recorded in 2008, says Les Echos low interest rate personal loans.

For its part, Spain on Thursday to conduct a bond issue.

Finally, many figures are expected in the U.S., including inflation for the month of August, the current account balance in the second quarter, the weekly claims for unemployment and industrial production for the month of August .

On the foreign exchange market, the euro down 0.16% to 1.372 dollar on Thursday. In turn, oil prices continued to fall, after figures showing a decline in demand for refined products in the United States, and while the markets remain worried about the situation in the euro zone, analysts said.In early electronic trading, a barrel of "light sweet crude" for delivery in October lost 43 cents to 88.48 dollars per barrel of Brent North Sea crude for October delivery 53 cents to 111.87 dollars.

Values ​​to follow

• Banking

The banking sector, including Societe Generale (0.29% to 17.43 euros), BNP Paribas (1.04% to 27.18 euros) and Credit Agricole (1.80 to 5.31%) will be once again scrutinized by investors. The crisis became systemic, according to a document sent to the European Union finance ministers and obtained by Reuters, which also recommended a further strengthening of bank resources. In addition, two out of three French believe that the weakening of the banking sector related to the debt crisis could threaten their economies, according to a CSA poll released Wednesday to Les Echos.

• LVMH (1.25% to 113.20 euros)

The group announced Wednesday it had chosen Jordi Constans, come to Danone, to succeed Yves Carcelle at the head of Louis Vuitton in 2013.

• ArcelorMittal (2.68% to 13.23 euros)

The company promised to stop its steel plant in Florange (Moselle) would be temporary, said Wednesday the French government.

• Areva (2.04% to 21 euros)

The nuclear expert will present its strategic plan in early December through improved operational performance, an adjustment of investment and possible asset sales, said its president of dirctoire in an interview for Echoes.

• Publicis (0.56% to 30.66 euros)

The group announced Thursday the acquisition of 100% stake in a public relations agency in the United States, Schwartz Communications, which specializes in technology and health, for an undisclosed sum.

• Bouygues (0.53% to 24.86 euros)

Wednesday, Bouygues Construction, through the company Eirene, delivered the first 53 service centers and respond to the DIT (Directorate of transport infrastructure under the Ministry of Ecology, Sustainable Development, Transportation and housing), according to Reuters.Eirene now provides maintenance and management of these buildings for 28 years.

• Technip (0.76% to 67.89 euros)

The French group of Petroleum Engineering has won a contract for facilities ammonia-urea fertilizer in Port-Gentil (west of Gabon), from Gabon Fertilizers Company, said in a statement.

• Cellectis (6.02% to 5.99 euros)

The company will acquire the Swedish company Cellartis specialist tools for research and development in vitro derived stem cells, as part of a contract valuing the approximately 33.8 million.

• Hermes

The luxury group said that trading in its title would be suspended Thursday pending the decision of the Court of Appeal of Paris on the exemption granted by the AMF on the buyout of minority interests.

Germany valid subject to the rescue of the euro

The side of the euro area, the eyes were on the German Constitutional Court ruled on Wednesday that the legality of the financial contribution of Berlin plans to help Europe. The latter was eventually struck down a series of lawsuits aimed at preventing Germany to participate in rescue packages for Greece and other countries in the euro area. The Court of Karlsruhe, however, observed that the Parliament should have a say greater pout any future rescue.It considers that the German government must seek the approval of the budget committee of Parliament before extending such assistance, a condition likely to slow down a bit more of Europe's reaction to the crisis.

The European Commission has also expressed his relief after Tuesday night's decision by the Italian Government's plan to strengthen budgetary discipline, while financial markets doubted the real will of Rome to reduce its deficit. For its part, the Spanish Prime Minister Jose Luis Rodriguez Zapatero, acknowledged Tuesday the difficult economic situation, highlighting the problem of Greece, and "tensions" in the markets, but said that Spain 's will not need help.

In the United States on Thursday will be a crucial day in Congress with the speech of President Barack Obama on employment.The CNN already believes that it will propose to spend $ 300 billion to new posts. These new expenditures should be fully offset by budget cuts. All the news about the health of the U.S. economy are expected in a context of fear of a recession in America. As such, investors are waiting to know the details of the Fed's Beige Book, which will be announced tonight.

The single currency was up 0.37% to 1.4058 dollar find 'afternoon. It is particularly supported by the decision of the Swiss National Bank (SNB) to set a floor price of 1.20 francs per euro. Oil side, in the early electronic trading, a barrel of "light sweet crude" for delivery in October gained 51 cents to 86.53 dollars per barrel of Brent North Sea crude for October delivery 39 cents to 113.28 dollars .

Bank stocks rebound

• Banking

Countries in the euro area have no plans for financial support to banks beyond and above what was planned for the financial sector rescue packages in Greece, Ireland and Portugal, have sources said Tuesday the euro area. For its part, Greece wants to extend the powers of its central bank to strengthen bank supervision, hoping to put the sector in the shelter of a worsening debt crisis, according to a bill presented Tuesday.

Bank stocks move up the slope after suffering the last three sessions.Axa (4.17% to 10.02 euros), Credit Agricole (3.20% to 5.74 euros), Société Générale (2.40% to 19.38 euros), BNP Paribas (6, 68% to 31.64 euros) rise.

• Air France-KLM: 5.96% to 6.35 euros

The company reported passenger traffic up 7.6% in August, a load factor of 85.7% on the month and stability of cargo traffic (-0.2%) with capacity up 2.8%.

• Pernod Ricard: 3.78% to 61.47 euros

The group said they did not consider major strategic acquisitions before next summer at least.

• Scor: 2.49% to 16.02 euros

The reinsurer expects to achieve a volume of gross written premiums, equivalent to sales of 10 billion euros in 2013, against 6.7 billion in 2010, according to a statement posted Wednesday on the occasion of a day devoted investors.

• Sodexo: 2.74% to 52.09 euros

The group, a global leader in catering, has announced the acquisition of Puras do Brasil, Brazil's number two industry, in a statement. With this self-financed operation, Sodexo will become number one in Brazil, a rapidly growing market where Puras do Brasil realizes a turnover of half a billion euros.

• Valeo: 8.69% to 33.57 euros

The group announced its intention to repurchase up to 670,000 of its shares to a maximum of 22.5 million euros in connection with operations authorized by the General Assembly in JuneThese shares will be allocated for the implementation of any plan of options to purchase shares in the allocation of shares in respect of participation or implementation of any company savings plan.

• Biomérieux: -2.86% to 69.94 euros

The group released a consolidated net profit up 3.7% to 75 million euros in the first half and said forecast for 2011 organic growth in sales of around 5%, against a previous target of +5% or + 6%, in a context of weak European economy and the U.S..

• Boiron: -25.28% to 20.10 euros

The specialist in homeopathy said the uncertainties in the economic environment for caution in its annual outlook after a second quarter marked by a 3.3% decline in sales.This decline in activity, combined with an increase in personnel costs and a continued investment in advertising, led to a fall of 92.5% of operating profit in the first half of the year.

• Transgene: 1.84% to 9.40 euros

The specialist therapeutic vaccines has announced a net loss dug to 17.7 million in the first half, against -14.5 million a year earlier, but said he expected a second part of a year rich in results and starting clinical trials.

As for recommendations:

The UBS analysts raised their recommendation on the title Accor (5.34% to 23.28 euros) to "neutral" against the "sell" previously. Analysts at Morgan Stanley in turn have lowered their recommendation on the title PPR (1.26% to 108.85 euros) to "neutral weight" against "overweight" previously, said market sources Wednesday.

But mainly because the second plan with 158.6 billion euros, concocted by the Heads of State on July 21 and has yet to be ratified by all members of the euro area, has been seriously shaken by Finland.

Helsinki this week announced it has signed a bilateral agreement with Athens where, in exchange for his participation in the bailout, Greece to collateral ("Collateral") to Finland. This sum, which some analysts valued at 1 billion euros would be invested by Finland in risk-free assets.Interest earned will, in the end, to cover the amount loaned in the rescue plan. In other words, the Finnish government has made pledges to ensure against any risk of default of Greece.

Two-tier system

Technical in appearance, this agreement could have an impact politically devastating. Although this is a bilateral agreement, "Member States of the zone will validate this discussion between Finland and Greece," said a spokesman for the Commission, Amadeu Altafaj, ensuring that " Negotiations are already underway. "

But in Brussels, it does not hide his concern. If it is definitely validated the agreement between Finland and Greece could open a Pandora's box by allowing other countries to step into the breach. Austria, Slovakia and Slovenia are already tempted to do the same."We believe this agreement will exacerbate the problems of Greece and did not fall," warned yesterday the Dutch Prime Minister Mark Rutte. He said the solution is equivalent in effect to "resume direct" the money lent. However, the Dutch Prime Minister said that if the Finns get this guarantee, it should apply to all countries in the euro area make quick cash.

Therein lies the problem. By creating a two-tier system, the agreement undermines the solidarity displayed by the leaders of the euro area on July 21. "The participation of Finland has been canceled," said one EU source, deploring an arrangement going "against the spirit of the agreement" for Seventeen.

Difficult, however, to reverse, the source added.Helsinki is indeed required to deal with the nationalist party of the True Finns since their breakthrough in the last legislative elections and their reluctance to come to the rescue baskets drilled in the euro area.

Markets are not fooled

Under the pressure of Finland, the Heads of State of Seventeen had included a short clause in their agreement of July 21, stating that "where appropriate, a security agreement will be established to cover the risk arising, for Member States of the euro area, the guarantees they have provided to EFSF. " The rhetoric is vague and leaves open to interpretation. Yesterday in Brussels, experts from the ministries of finance in the euro area came together to floor on the issue.

For the Commission, this development is not a surprise, and he emphasizes the urgency of ratifying the agreement of July 21.José Manuel Barroso had written to heads of state of the euro area from August 3 to ask them to speed up the timetable, and thus "avoid introducing excessive stress in terms of conditions or additional collateral." We understand better the rush now.

Athens wanted reassurance yesterday, indicating he had entered into negotiations with a pledge of Helsinki. But financial markets are not fooled: "If all countries in the euro area, each requiring a Trust Agreement, this will restrict all the help that will actually be available for Greece," say economists at Barclays Capital. This would imply de facto establishment of an additional third envelope.

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More surprising number of taxpayers potentially affected by such a tax do not hesitate to ask now open! American side, the billionaire Warren Buffett has called this week for a contribution of "mégariches."In France, Maurice Levy, chief executive of Publicis Group and president of the Afep (French association of private companies), wrote in his name, an article in Le Monde, where he considered it "essential that the effort Solidarity begins with those whom fate has spared. " All indications are that it will be heard as the French government pledged last spring to introduce a tax on high incomes. "Today we are working on the issue of remuneration is said sometimes extravagant," reiterated on Wednesday on Europe 1, the budget minister, Valérie Pécresse.

The majority has already noted last year from 40% to 41% in the final tranche of IR. But this time it is hit with higher incomes (the final installment begins 71,000 euros in annual revenues). And this without creating a new rate of IR.While some lawmakers, like Senator Jean Arthuis centrist, still defend the idea, Nicolas Sarkozy is opposed to any new slice. Since the fall, the government has consistently rejected in Parliament every initiative of his majority to create a slice with 46% annual earnings per share in excess of 100,000 euros.

A million or 150,000 euros of income a year?

The Ministers of Economy and Budget has established a working group of parliamentarians who must propose measures in the fall, in the 2012 budget. The idea of ​​the executive, initially was rather taxing high incomes via the company by making non-deductible from corporate tax wages above a certain level. But the government now seems to favor a direct taxation at the household level, a solution advocated by many parliamentarians.Gilles Carrez, the UMP rapporteur of the budget in the Assembly proposes to introduce a contribution of 1% to 2% of annual revenues in excess of one million euros.

Advantage: All income is affected, including dividends and capital gains, not just wages (as with the non-deductibility). The threshold of 1 million French can target very easy – 30,000 homes would be affected. "The measure must be a symbol. This is not to bail out of the state, "said Jerome Chartier, UMP du Val-d'Oise. In fact, 2%, the new tax would yield only 300 million (against $ 1 billion for the portion eg 46%). "Be careful not to pour into demagoguery and rich hunting. The contribution must be calibrated, "adds Philippe Marini, UMP rapporteur of the budget in the Senate.

Problem: all members do not see it that way.Pierre Mehaignerie, the UMP president of the Committee on Social Affairs in the Assembly hopes that the contribution applies from 150,000 to 200,000 euros in annual income for couples and 80,000 euros for a single. At this level, more than 300,000 homes were affected, including many executives. "I understand that. But our people are ready to make an effort if, at the same time, the state reform, "Pierre defends Méhaignerie. The animated discussions ahead in the majority!

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As American Airlines, Delta Group and United merged with Continental are equipped with aging fleets, particularly in the segment of short-and medium-haul. The older aircraft fuel efficient and more expensive to maintain (DC 8, Fokker 100, MD 80, Boeing 737 – 300, 400 and 500 but also 757 and 767 B, etc.). Will soon be made retirement. Aviation experts estimate that 5000 of these aircraft will be replaced in the short term, 70% are in service in the United States. "Of these, 820 units have over 25 years and 4400 more than 15 years.Which suggests a peak in orders in the United States that will generate a peak in deliveries in 2016, "said a spokesman for Airbus in Toulouse.

Before winning the contract American Airlines, Airbus was already present in the U.S. market, where it sold 2600 units. The European manufacturer has taken some nice positions in low-cost companies. JetBlue's fleet for example is made of 100% of Airbus A 320. She will have 202 by 2012. Conversely, the presence of Airbus is modest in the majors. Delta, co-founder of the SkyTeam alliance with Air France, with 158 A 320 and A 330 of a total of 805 aircraft and flew United 152 Airbus A 320 and A 319 of a total of 359 devices. But Continental does not have any Airbus in its fleet as American Airlines.

Fuel Savings

The new deal is in favor of Airbus.Companies equip themselves with more fuel-efficient planes, while oil prices settled around $ 100 a barrel. With these new engines – Pure Power Pratt & Whitney and GE-Safran Leap – A new family 320 NEO announced in December promises a fuel economy of 15% compared to a conventional A 320 or B 737 and 30% compared with a B 757.

This argument has convinced many customers. Airbus received 1200 orders and purchase intentions for the device A 320 NEO. At the Paris Air Show in June, the low-cost airline AirAsia has ordered 200 A 320 NEO.The Indian carrier Indigo 150.

For its part, the engine manufacturer CFM International, a joint venture between General Electric American and French Safran, announced yesterday that he had been selected by Boeing to equip the next version of the 737 medium-haul with the Leap-X engine.

"820 units have over 25 years and 4400 more than 15 years. Which suggests a peak in orders in the U.S. "

Threshold at 1.3 million euros

This article provides for the abolition of the first tax bracket to the ISF by raising the entry threshold of 800,000 to 1.3 million euros of assets. This measure should allow taxpayers to exempt 300,000, which corresponds, according to the government, owners of a principal residence whose value has soared because of the explosion in property prices in recent years.

Two rates of 0.25% and 0.5%

Section 1 provides further reduce the progressivity of the ISF. The schedule now has six units which techniques are applied six rates ranging from 0.55% to 1.80%.If the text is finally adopted by the Assembly and the Senate, it restr only two tax brackets: 0.25% for those whose assets do not exceed 3 million euros and 0.5% where the estate is greater.

This Friday, the resumption of debate, an amendment allowing a small reduction in ISF extra part dependent children has been strongly denounced by the left. In detail, the amendment of the rapporteur Gilles Carrez UMP plans to "increase the amount of reduction for each dependent from 150 euros to 300 euros, including adult children who are studying. "Interesting," said Budget Minister Francois Baroin, who relied on the "wisdom" of the Assembly. "You have no shame.It's outrageous, "launched the PS deputy Christian Eckert, denouncing" 150 euros reduction for people whose assets exceed $ 1.5 million, even though the school year allowance is granted conditionally for income below 23,000 Euros.

On June 14 the Senate

The reduction of the ISF is the corollary of the abolition of the tax shield, a key measure of quinquénat adopted in 2007 which provided for the tax cap to 50% of revenues.The fate of the latter, under section 13 of the supplementary budget will be sealed within hours or days ahead, examining the text to run until Tuesday, June 14, the date set for the formal vote and Transmission of the Senate.

(With agencies)

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Everything works, but to move to industrialization, it is necessary to use elements that exhaust heat very well. And this is where Mersen, specializing in composites. The agreement with the ex-Carbone Lorraine into that framework."The technology developed by Corning combined with our expertise in silicon carbide products represents a technological breakthrough for the pharmaceutical industry," said Luc Themelin, board member Mersen. The discussions lasted nearly a year and a final agreement covers the exclusive supply of ceramic microreactors Mersen in Corning.

This type of agreement is of particular interest Mersen. French society is indeed an OEM, by definition particularly vulnerable in its relations with its customers. To protect its margins, the group has developed a strong expertise in composite materials. It thus becomes an indispensable partner to its customers.

Using the special graphite, the group has made a remarkable breakthrough in the solar field. Five years ago, Mersenne was not present in this sector.This year, it should achieve 100 million euros of turnover easy payday loans.

Products manufactured in Tarbes

In the end, Mersen recorded 13% growth in its turnover last year to 741 million euros, an operating margin of 10.5%. And there are other sources of growth in the LED or the pharmacy, as evidenced by the agreement with Corning.

Today, there is no direct revenue associated with this contract. "Corning is currently negotiating with potential customers, mainly in Asia. We hope that the first contracts will be signed in September. To Mersenne, this means that the first revenues could arrive next year, "says Luc Themelin.

Corning's new product has many advantages over earlier technology: less investment, lower energy consumption and better control during manufacturing.The rise will take time, however, pharmaceutical companies not renewing their plants very often.

Mersen products related to this contract will be manufactured at a factory in Tarbes, which belonged to Boostec, bought by Mersenne in April 2010. Before the acquisition, the plant realized about seven million euros of turnover. "This contract would allow us to triple the revenues of the plant to the next three or four years, says Luc Themelin. Beyond that, we will make additional investments to increase capacity. "

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The originality of the work Capgemini lies rather in highlighting a lack of substance between individuals and their bank on subjects deemed essential.Only a third of customers indeed evoke an "experience" positive when investigators asked to speak on their products, distribution channels or transactions they consider most important.

First demonstration: contrary to popular belief, customers are not obsessed by the financial benefits offered. "The first two reasons why a customer was willing to leave the bank are quality of service and ease of use, and note Lassignardie Jean, director of sales and marketing financial services sector at Capgemini. Experience comes before the level of interest rates or commissions. "The quality of advice is listed in sixth factor, tied with the location of the agency payday loans lenders.The reputation of a brand plays even little: only a quarter of customers would opt for a new bank because of its image.

Eighteen visits per year

Second major lesson of the study: although the flow on the Internet continues to increase, individuals do not want to switch to all-digital and remain committed to their agencies. The link between the customer and distribution channel of course varies by country and Technology: South America and is the only continent where the use of mobile is developed for banking transactions.

But everywhere customers want an agency to handle complex operations. The majority of them declare themselves ready to move to settle the details of a mortgage. In a similar vein, individuals do not want to tackle a "problem" but only to face an Internet consultant, agency.After a period of uncertainty, the banking agencies should benefit from renewed interest in the coming years. Between 2005 and 2010, the number of visits of Europeans to their counselor had decreased. According to the study, the trend should be reversed by 2015 to 18 visits per year. Frequency still modest compared to the rate of Americans. They spend their advisor to see 28 times a year.