At the heart of the case is the risk that the aid will distort banking competition.

“We must be careful not to introduce distortions in the competition”

“We must be careful not to introduce distortions in the competition,” he said during the “Grand Jury RTL-LCI- Le Figaro ” about the aid of 10.5 billion euros in capital brought by France to six banks: BNP Paribas, Societe Generale, Crédit Agricole, Caisses d’Epargne, Banques Populaires and Crédit Mutuel.

Negotiations are tense between Paris and Brussels, the European Commission being reluctant to endorse the plan to support French banks of 40 billion euros announced on 13 October. At the heart of the case is the risk that the aid will distort banking competition.

Sunday, November 30, the President of the European Commission, the Portuguese José Manuel Barroso, expressed his reservations. While affirming that Brussels examined rigorously and quickly the French plan and that there was no blocking, he warned against a “law of the jungle” between countries of the European Union.

“We must be careful not to introduce distortions in the competition,” he said during the “Grand Jury RTL-LCI- Le Figaro ” about the aid of 10.5 billion euros in capital brought by France to six banks: BNP Paribas, Societe Generale, Crédit Agricole, Caisses d’Epargne, Banques Populaires and Crédit Mutuel.

The use of these funds is of concern to the Commission because, in return, the French government is asking banks to increase their credit to businesses and individuals. State aid would then allow them to gain customers on unassisted banks.

Mr. Barroso believes that a distinction must be made between emergency measures, such as the rescue of the Franco-Belgian bank Dexia, and the restructuring measures to which these loans belong to French banks- look at this website yanghuangshan.com/law-firms-the-particular-success-is-in-your-hands Yanghuangshan. “There must be a clear and homogenous criterion for the whole of Europe” in support of the banking sector, he added, warning against a “fragmentation” of the single market.

Friday, the Minister of Economy, Christine Lagarde, and the Commissioner for Competition, Neelie Kroes, had raised this issue without being able to move forward. “There is a willingness on both sides to reach an agreement,” said a spokesman for the Commission. Negotiations will continue this week on the sidelines of meetings of European finance ministers in Brussels on Monday 1st and Tuesday 2nd December.

Since the beginning of the financial crisis, Brussels has insisted that the intervention of governments to help banks must be made in return for adequate remuneration, accompanied by measures to compensate for distortions of competition and be limited to strictly necessary to remedy the disruption to the economy created by the crisis.

“WE CHANGED FROM WORLD”

Asked about a possible blocking of the French plan by Brussels on the sidelines of a UN conference on financing for development in Doha on Saturday, November 29, Nicolas Sarkozy said he had “spoken on the phone” with Mr. Barroso the day before. “I do not think there is such a willingness on the part of a particular commissioner, it would be that everyone understands that we have changed hands and that we have to move quickly,” he added. President of the Republic.

In the past, French officials accused the Commission of being too dogmatic in the application of the competition rules. This time, with the financial crisis, it is more flexible. But “as the economic situation improves, the Commission will tighten the bolts to prevent governments from taking advantage of the crisis to over-subsidize or favor their companies, ” said Jean Pisani-Ferry, director of the think tank Bruegel Brussels.

Real Estate: "At this price, you buy a shed!"

Real Estate: "At this price, you buy a shed!"

The number of real estate transactions in France fell by 10% in the first quarter. The readers of Monde.fr tell the obstacles that prevent them from acquiring property.

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    The number of real estate transactions at the national level declined by around 10% in the first quarter. In a call for testimonials launched by Le Monde.fr, Internet users tell the obstacles that prevent them from acquiring real estate.

    • "Most ads that seem correct only stay in the window for two days" , by Clement B., 23, Rouen

      Living and working in Rouen, young active, I try to stay in the city center (where I currently rent an apartment) to be able to go out easily and go to work on foot. Having a contribution and salary that I would call high, I thought I could easily find what I was looking for: a F3, bright and in good condition.

      It was without counting on investors. After four months of research, the only apartments I visited were dark old apartments, mostly in poor condition or in more distant areas of the city center. Most of the ads that look good only stay in the window for a maximum of two days and I do not count the number of times I was told: "This one is gone very quickly, but we have other equivalents "… equivalent in size and price … not in quality! The proof ? It's been four months since I see them in the window.

      The scourge that seems to settle is called investor: these people are the first on the apartments and if the state is suitable, they buy, refresh and rent. I am also a tenant in a building owned by an investor! They partition the market, they make the prices, both for renting and buying …

      • "Buying becomes impossible for first-time buyers", by Antoine B.

      Expatriate, civil servant, with a consequent salary, my bank nonetheless refused me a loan of 200 000 euros (half of which by the loan with zero rate) over twenty years, on the ground that they could not be certain that I would continue to earn this salary during the loan period! But I had a personal contribution of 120,000 euros, more than a third of the total amount of the project, and could have paid well before. The risk of unemployment was almost non-existent. Under these conditions, what is a bank for? Buy becomes impossible to first-time buyers.

      • "At that price, you buy a shed!" , by Morgan, 25, IT executive, Essonne

      I recently studied the possibility of buying a property in the Paris region, in Juvisy, Essonne. Winning my life correctly (more than 2,200 net euros per month), I met my advisor to get an idea of ​​my borrowing possibilities. Result: with a maximum of 120,000 euros of borrowing, whatever the contribution, the loan is over twenty years! My advisor told me directly: "At this price, you buy a shed!" The main difficulties are therefore a low contribution and prices in the Paris region. Yes, I make a good living, much more than my parents who can not help me invest, as it is more and more (at least among my acquaintances).

      • "Adieu Paris" , by Guillaume N., 27 years old, engineer

      I am a member of a CAC 40 group, so I am a well paid person. I rent and I can put 10 000 euros aside each year for five years. But 50 000 euros of contribution for a good which is worth at least 300 000 in the Paris area, with a room for a child who arrives, that means that I commit myself for twenty years and that if there is work to do, I will not be able to devote a large budget and of course, it is me who will realize them. In short, not happy.

      So, I want to go to the province where, for a lower price, we can have a house, a garden, four rooms and transport times divided by three. I am now looking for work in the provinces. The Paris region loses attractiveness for young people – even graduates – because of real estate prices. And the decline of some unfortunate points on the price index that we were talking about recently will not change things. Goodbye Paris!

      • "The current level of prices would lead me to spend all my savings", by Jean S.

      After a series of missions in the provinces, I returned to settle in the Paris region with my partner and my three children. My wealth consists entirely of liquid investments that should in absolute allow me to acquire a house adapted to the size of our family in the limit of the first suburbs of Paris, East of Paris (Chelles).

      But it is clear that the current level of prices would lead me to spend all of my savings for twenty years and to go into debt another twenty years, and this without even having undertaken the least improvement work. All this because of the swelling, for ten years, of a real estate bubble which poisons the purchasing power of the Parisians, to the detriment of "the real economy". Not inclined to become a voluntary victim of this situation, I was lucky enough to find rent a house millstone, very large, but classified G energy performance.

      By persuasion and insistence, I convinced the owner to do some improvement work. Since then, I take advantage of this accommodation, the rent of which costs me less than the repayment of a mortgage. I will wait as long as necessary for the prices to return in reasonable proportions. At the limit, I wonder if the late acquisition (once the children left) of a small Parisian apartment or a house in the province would not be the best solution, in fine.

      • "We were looking for 70 m 2 , we are now looking for 50" , by Alexandrine, 28, Paris

      It's been a year and a half that my husband and I are looking to buy in Paris. We were looking for 70 m 2 , we are now looking for 50 m. We were looking in the 11 th , we are now looking in the Goutte d'Or. We were looking for a good around 500,000 euros, we are now limited to 400,000. We were looking for an apartment with elevator, we have obviously totally abandoned this idea.

      The prices are incredibly high and the precarious economic situation means that we do not want to commit ourselves to too high monthly payments, in case one of us is left without work. We know that only a big stroke of luck will allow us to find something suitable in our prices.

      • "The sellers do not hesitate to triple the purchase price", by Jacques S., 55, executive

      I am one of the "well-off" buyers, with a budget of 650,000 euros. But the offer does not correspond to my needs in the plain of Perpignan. Today, there are hundreds of goods at these prices, but the overall standing does not correspond to the asking price. I feel like I'm the target of a "pigeon hunt" that I do not like. Last argument heard when I asked the justification for the price of the house: "It's to buy us a sailboat." Real estate is often seen by homeowners as a hen with golden eggs, and sellers do not hesitate to triple the purchase price of ten years ago.

      • "Renting leaves a lot more flexibility" , by Mara, 33

      We are two thirty-year executives, with an income of 5,200 euros monthly and more than 200,000 euros of contribution. To buy an apartment matching our needs in the next five to seven years (T 3 / T4, more than 60 m 2 , parking, near suburbs, south-west of Paris), we would have to borrow at least € 300,000 , not including notary fees. Which equates to nearly 1,700 euros a month over … thirty years, when my parents paid their house (in the west of Paris and with a surface of more than 150 m 2 ) at the same age, with only one salary and in less than twenty years.

      Out of the question to borrow on such a long period for a property in which we would not stay any more than a maximum of ten years. The rental is more accessible and allows much more flexibility, both at the level of professional developments and family. Despite a significant contribution, the price level keeps us away from the market, as many "young" potential buyers.

      • "The old adage 'to rent is to throw money out of the windows' is no longer valid" , by Sandie B., 32, senior manager

      I rent a well placed house, close to shops, transport, in a listed city. Buying this house over twenty years would increase the rent by 2.5 – not including the notary fees, the property tax and the inevitable repairs. I am nevertheless solvent for the purchase of a house, but I prefer to save the delta between my rent and the potential monthly payments, which assures me a patrimony (although it is not stone), a greater mobility in case of transfer or resignation, and less hassle in case of accident of life of any kind. Nowadays, the old adage "rent is to throw money out of the windows" is no longer valid because of the prices too high.

      • "Eight or ten years ago, we rolled out the red carpet, today we are regarded as less than nothing!", By Laurent F., 37, La Garenne-Colombes

      We are two executives on permanent contracts, accumulating 4,600 euros of income per month. We have a patiently built contribution of 130,000 euros. Despite our "good profile" according to the banks, impossible to find a housing that meets our needs. The last real estate agent with whom we discussed admits that it has become a luxury market in Paris, but also in the near crown, where we are looking (Hauts-de-Seine).

      Eight-ten years ago, we rolled out the red carpet with our budget, today we are regarded as less than nothing! Buying your home is reserved for the very rich today, impossible to do it thanks to his only work. We are disgusted by this country which does not dare to confess that we are in the middle of the real estate bubble, which has no recoil on the prices too high and which looks only at the pseudo fiscal advantages, without taking into account that the housing, it is first a need and a right.

      • "We bet that prices will not fall" , by Erick L., optician, 44 years old, Savigny Sur Orge

      We found the house of our dreams at the price we wanted at the end of March 2012: 350,000 euros for 137 m 2 25 minutes from Paris, with a loan of 3.70% over twenty years. We finally found that the owners were more reasonable and the houses, sold at the right price, whereas before they were often surcotées more than 20%.

      This is certainly due to elections: there are fewer buyers, because they still hope for election promises, for more sellers who, they fear that the decline in prices will not endure. And that, I do not believe it. This is the bet we make for our project, because we intend to sell our old house after the elections. So we took the precaution, on the promise of sale, to defer the signature at the notary for five months. And we will sell at the market price, via a real estate agent.