International & World Report

Trinity Place is not exactly the Tahrir Square, but the mood is not very different: the protesters want to express their ras-le-bol against those in power. United States, it is against the bankers and Wall Street financiers that discontent is rising. A popular movement calling itself "Mind Wall Street" apparent since Saturday in the heart of the financial district after taking the form of social networks.

Demonstrators protest hearing to December against what they denounced as the culture of "money", "greed" and "corruption" of Wall Street and asking Barack Obama to establish a commission putting "an end to influence of Wall Street on politics in Washington. "

Saturday, those with transforming the world capital of finance in place Tahrir U.S. were only slightly more than a thousand.Sunday, they were more than half and Monday, hundreds of "outraged", especially young people, continued to protest under heavy police surveillance. Some, including the long-term unemployed, a new phenomenon in the United States-had even slept the night on benches. We are far from the ambition of the movement: "20,000 people together, invade all of southern Manhattan, set up tents, mobile kitchens, barricades and hold peaceful Wall Street for months," and claims are at least different – from Tax the rich (heard by Barack Obama) to better education and greater respect for the environment through support for Palestine.

Social unrest

But the move reflects a real social unrest in a country where social inequality exacerbated by the crisis are becoming more glaring as Washington is incapable of falling unemployment rate below 9%. Ironically, New York is not Cairo and it is unclear how the movement could grow against the police operation from the authorities. The New York Mayor Michael Bloomberg, known for his patience limited to public expressions of discontent, summarized its limits: "If they want to protest, they have the right, we will be happy to allow them to do so in specific locations (…) they can demonstrate provided they do respect the rights of those who do not show. "

Monday for the third consecutive day, the police strictly controlled the entrance to Wall Street financiers on presentation of their business card, to the delight of some employees of companies like Deutsche Bank and Bank of New York. During the weekend, police had cleverly divided the pedestrian crossings on Wall Street so that demonstrators can never enter. All banks are not installed on Wall Street. JP Morgan, Morgan Stanley, Citigroup and Bank of America, which announced the dismissal of 30,000 people in the coming years, have their headquarters earlier in Manhattan. In New York, the police presence was strengthened this week due to the expected arrival of heads of state from more than 120 countries, including that of Barack Obama on Monday.

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"SPECIAL – Depression, fear of debt

Italy would not have sought help from China to overcome its problems of sovereign debt. So says the Tuesday evening Antonio Gentile, Italian Secretary of State for Economic Affairs. Contrary to information in the Financial Times that Rome would have asked Beijing to make significant repurchases of its sovereign debt, it says that "we have not requested any specific assistance to China. The demand for government securities is good Italian. "

Antonio Gentile and again the words of a member of the Italian government which emphasized on Monday night that the purchase of debt securities of the Italian state was not central to the negotiations which took place several weeks ago. While the Finance Minister Giulio Tremonti, as well as officials of the Cassa despositi e prestiti, met Lou Jiwei, the chairman of China Investment Corp (CIC), accompanied by a delegation in Rome.But "there is no extraordinary operation to purchase debt with China but only institutional meetings planned for a long time to evaluate investment opportunities in Italy, especially in industrial," said Secretary of state.

This meeting was on capital expenditure and not bonds, "provided later another government source.

Relief markets

In any case, the information had an immediate impact on equity markets. European shares closed Tuesday on a rebound, despite the conflicting information. Yesterday, the news sparked a dramatic rise of U.S. indexes, which ended the session up when they were, like all European markets, a sharp decline shortly before that information cash advance loans. Foreign exchange markets also reacted.The information has strengthened the euro, trading at 1.3692 dollar in the evening.

All stock indices around the world is indeed suspended at the least information related to the status of sovereign debt in the euro area. In fact, the fear of contagion shook the Greek market.

The tension remains strong. Italy fails to regain investor confidence on Tuesday and again, the Italian rates have soared in bond issues.

China has pledged to support the euro area

The assumption of support from China bound for the euro area is particularly taken seriously by the markets as the Central Bank of China recently said it was ready to support countries in difficulty to repay their debt.

Moreover, China has already come to the rescue of countries in the euro area in difficulties in recent months.In late May, Beijing had expressed its intention to purchase debt securities issued by the European Stability for Portugal. In January, China had purchased European titles for bail Ireland. And from the beginning of the crisis, China had come to the aid of Europe's sick of his debts. Earlier this year, the country had purchased bonds espagnolespour a hundred million. The Middle Kingdom is also committed to acquire Greek bonds

By helping the EU now, China is diversifying its investments in debt securities. In addition, the country is gaining leeway in future negotiations.

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"Who owns the Debts

Denis Olivennes set the course. The boss of Europe on Monday announced a desire to place the station "lasting beyond 10% of total audience," where its predecessor, Alexandre Bompard, always assured that "we had not set a target Hearing ". A Europe which ended the 2010-2011 season to 8.7% of the audience, did not exceed the symbolic threshold of 10% audience from January to March 2010. For Denis Olivennes, yet it is the "natural area" where Europe has to change 1. Currently, a play in which division France Inter (10.2%) and NRJ (10.7%). "It's a marathon not a sprint," said Denis Olivennes.

If the owner of the station, also at the head of information division of Lagardère Active (Europe 1, Sunday Journal and Paris Match), is given three years to reach its goal, it is pressed to do so."We need to increase advertising revenues and those from diversification. It provided funding for our programs, "commented Denis Olivennes. In the first half, Europe 1a indeed registered a "slight decrease" in advertising revenues. But advertisers have been attracted by the new schedule in September, reassured the control group.

This new grid wants to "reconnect with the deep roots of the station." "Europe is a television station whose spine is the information which has the characteristic good humor," analyzed Denis Olivennes.Simple translation on the air: the three appointments of information of the day – the morning, afternoon and evening Europe – are interspersed with two "beaches of entertainment," in the late morning and afternoon.

New site info

Eager to improve its image among listeners as advertisers, Europe has become an an "opinion leader". It is the mission entrusted to Arlette Chabot, director of information of the station. "The information needs to be a reference to Europe, as its independence," she said. To strengthen its position as the standard for information, will also launch a Europe in mid-October a "pure player" of information, facilitated by a dedicated team of journalists. It will be fed content from other sites in the group, its own content and production of Internet users.

"Yes, I advocate a federalist vision of Europe," enthused Nicolas Sarkozy on Thursday before his counterparts in the eurozone. The Franco-German proposals for a better European governance are not intended to create a big night in which federal public opinions are not ready. The French initiative on the fact that the Greek debt crisis has revealed the interdependence of European economies. "We have reached a degree of interpenetration as the most federalist of us did not even imagine. The Stability Pact is not enough, "says one senior European official.

The proposals will set aside any supranational option. The proposal to create the office of Union Minister of Finance put forward by Jean-Claude Trichet, the head of the European Central Bank, was clearly rejected by Paris."The idea of ​​the president is to move towards more European integration. However, he does not want a supranational economic government, "said one close adviser. "He believes in a more close monitoring by peers, by the Commission, and also the creation of a European rating agency," it adds.

Among the possible ways, that of a regular meeting of Heads of State in the euro area. Until now, German Chancellor opposed any "institutionalization" of the summit to seventeen for three reasons: not to cut Europe into two hopelessly between those who use the euro and those that have no. Do not give the new speaker a casting vote in the Mediterranean countries (Greece, Portugal, Italy, Spain …) friends of France and are far from being paragons of virtue.And, ultimately, do not support the idea of ​​a Franco-German Executive which is expected to submit the rest of Europe.

A "European Fund"

For this reason, many MEPs protest against the double standards of Paris and Berlin. "The economic governance of the Franco-German dictatorship is not a solution," says MEP (Modem) Sylvie Goulard, who defends the idea of ​​involving the European Parliament to tax policy options. Other tracks include the gradual transformation of European Stabilization Fund into a "European Fund." Finally, many "federalist" believe we should give more resources to the European Commission. "The statements of intent for a greater convergence of economic policies were made in the Lisbon strategy, and it did not help," says Sylvie Goulard yet.

At the Élysée, it places great emphasis on the need to confront the high-level fiscal policy choices, budgetary, wage. "Between 1997 and 2004, the French and the Germans had a policy against it. In France, we opted for 35 hours in Germany, Schroeder was the opposite. It was the model of what not to do when you're in the euro area, "says one close to the head of state.

"Nuclear power is one reason for the choice of France, not a choice of passion," said Eric Besson justified this Friday morning on Europe 1 radio. Recalling that the energy brought to France an "energy independence" and that it limited the emissions of greenhouse gases, the Minister of Industry, Energy and the Digital Economy has reported that "the certainty absolute "that electricity prices would be higher for the French consumer without nuclear.

The minister, however, announced that a "great foresight exercise", called "Energy 2050" was launched on Friday, "few hours". "We will study all possible scenarios (…) the energy mix for years to come."

No cases will be avoided, he said, "including so-called scenarios of nuclear power," even if "no belief" or "the choice of the Government and the President of the Republic." "To say 'out nuclear power', it means nothing, he said. What is interesting is to know where it is replaced, what consequences for the dependency [energy], how much it costs to businesses and consumers and with what consequences for greenhouse gas emissions. "

The program, which provides an "analysis of energy demand in France and the world" and "all sources of production" will be led by "the services of Bercy, with a number of experts and personalities independent, "the minister said without giving further details no fax cash advances.

Fessenheim: no suspension or moratorium

Eric Besson has also confirmed that the Fessenheim nuclear power plant in Alsace will not be subject to suspension of its business, or a moratorium. "The Nuclear Safety Authority, which is totally independent of political power, EDF has given permission to stay in business for ten years subject to a number of works. So Fessenheim continue its business, "he added.

But he added that "Fessenheim be subject, like all French nuclear power plants in Fukushima post-audit," an audit requested by the government to learn from the nuclear disaster that occurred in Japan in March. "The nuclear safety authority may make other decisions," he said.

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This year, no fewer than five new brands join forces for the first time in the Tour: Alcatel, Qatar Airways, Europcar (which also sponsors a team), and Banette Sojasun. It's better than in 2010, where three new partners (Digital, Teisseire, Cakes Saint-Michel) had entered the Tour.

It is true that the pyramidal organization sponsors tickets with different specific and visibility – enables sponsors to enjoy the varied biggest cycling race in the world. To be included in the club of four key partners alongside LCL, Vittel, Carrefour or Skoda, with arrangements for wider visibility and exclusivity of the brand associated with the Tour, it takes 3.5 to 5,000,000 of euros per year.

For their part the official partners (ten in total) as Antargaz, Orange, Festina, AG2R La Mondiale, Brandt or the PMU (the green jersey sponsor) must raise between 600,000 and one million euros. For that amount, they have a pavilion at the Village, a place in the publicity caravan and a right of communication associated with the Tour. Finally, the 17 official suppliers, engaged for three years, such as the ever-present Cochonou (14 years on the run), Nesquik, Sodexo, Etap Hotel and Haribo, capitalizing heavily on trade marketing operations, but are not associated with the sports section. Average amount of investment: between 300 and 500,000 euros.

Not to mention the octogenarian Caravan advertising that drives the pre-race with 160 vehicles and thirty brands that are paying 37,000 euros for the right to four vehicles (6300 euros per additional vehicle) and distribute the artists receive "goodies" . In anticipation of its 40 year history, has completely revamped its Cochonou device caravan and bobs will distribute 100,000 collectors, 400,000 sachets sausage, or 5000 bags. "Since our arrival in this race, we settled in aided awareness 95%.As for our market share by volume, it increases by 1.5 points during the competition each summer to 12%, "said Schneider Laétitia, Brand Manager for Cochonou.

Proof if any of the enthusiasm for marketing the event, we already know a new partner of the Tour in 2012: Le Coq Sportif, which will become the new supplier of ASO, some 60 years after a first experience!

New technologies invite themselves

Like likes to remember year after year Yvon Breton, No. 1 group collective foresight AG2R La Mondiale, signing 15-year presence in the bicycle, via a team (9 million budget) and a partnership with ASO, "what is the event that can give his name to a team that generates advertising equivalent of several million euros?" In 2010, they corresponded to 90 100% free credit score.5 million purchase of space or a new level, against 63 million euros in 2009. "We remain on the bike because it can continue to install the brand," he insists.Traveling agency that the group installed on each step also enables it to host more than 40,000 people during the three weeks of the competition and also to distribute the number of "goodies".

The media is probably the maximum calculation made by Alcatel One Touch, a newcomer to the team of partners ASO, which is the first investment in sports sponsorship. "We have a public position and the Tour is the premier event that allows us to reach out to families, much more available at this time of year, because vanaces," says Ludovic Leray, head of sponsorship. For his debut in the sport, the distributor of mobile phones and internet products will have a visibility distance through the appearance of its logo during the "course info" for the steps.It will also be the first partner to the general public to support the publicity caravan of the inside line, thanks to its smart phones and via Facebok and Twitter. Alcatel One Touch will also benefit from the device and expects to receive 550 hospitality guests during the Tour.

The passion is the same side of town who dream of one day hosting the festival of cycling. London did not hesitate to pay 10 million euros for the Tour in 2007, bringing together more than one million spectators along the Thames. The budget for a city of Grand departure starts at 2 million euros oeut effectivelment exceed the threshold of 10 million. Fortunately, the bill is more reasonable for the typical stages: 90 000 euros for a city of arrival, 60 000 euros for a departure city or 150,000 euros for the candidates to the city of rest.Result: ASO boasts more than 200 cities bidding to host the next edition of the Tour. What up years of the race tracks.

The ASO model is it infinitely expandable? "One wonders how the public finds it among the many brands partner on the Tour. Too many companies these may influence the visibility futures, "warns Marc Mazodier, research professor in marketing at the ISG business school. Specialist ambush marketing (ie ambush marketing), it stresses the need for brands to differentiate themselves from each other by a real working partnerships activation.

To those who doubt the impact of future rules on the banking sector, the market this Friday brings an answer without ambiguity. It was enough that the Financial Times raised the prospect of a fresh application of standards known as "Basel 3" for all European banking stocks rebound sharply! Crédit Agricole wins 3.61% to 10.62 euros, BNP Paribas climbed from 2.03% to 53.36 euros, the two largest increases Cac 40 and Societe Generale is 1.39% 42.32 euros. And this while the Paris Bourse advance of 0.77% to 3947.39 points.

According to British newspaper, that the deduction of bank capital and capital employed in the insurance industry that have been announced including less severe than anticipated. Good news, if it were true for large bancassurance groups that are French.

In fact, several elements collide in the European regulation.The European Commission initiated the drafting of the Directive (CRD 4), which transpose Basel 3. But the text does not fix a ceiling for leverage, since Basel 3 ratio does not compulsory but a tool available to regulators. Nor does it impose any standard of liquidity, since the Basel Committee provides a period of observation before definitively concluding its normative work. These elements are sometimes misinterpreted as a softening of the device.

A market sentiment indeed confirmed by another rumor that swells in the financial world: the possibility that the obligations imposed by Basel 3 are relaxed or shifted to European banks if a restructuring of the Greek sovereign debt should intervene.

The Cac 40, which is briefly fell below the 3900 points early in the day, closing up slightly on Wednesday. The index gained 0.31% to 3928.99 points.

On the stock market in Frankfurt, the Dax ended up 0.28% to 7170.94 points and the FTSE-100 rose at the close of 0.20% to 5870.14 points.

The OECD has reassured the United States and the euro area this year are expected to grow faster than expected, respectively 2.6% and 2% (against 2.2% and 1.7% previously), considers Wednesday the organization that maintains unchanged its forecast for 2012 to + 3.1% + 2%.

Concerns about the crisis of European debt have somewhat affected the odds: the morale of Germans, according to Gfk survey, should continue its degradation in June for the third straight month due to the debt crisis in euro and soaring oil prices. The index shows a decrease to 5.5 against 5.7 in MayIn addition, the Netherlands and Germany are threatening to commit the privatization of the Greek economy to foreign experts, reveals leFinancial Times. A new threat which seeks to lobby the Greek government to take drastic cost-saving measures.

United States, orders for durable goods fell more than expected in April, posting their largest decline in six months after the March increase, official statistics show on Wednesday. The U.S. Department of Commerce reported a 3.6% decline in orders in April after rising by 4.4% (revised from +4.1%) in March. Analysts polled by Reuters on average expected a decline of 2.2%.

With regard to the Icelandic volcano, France should be minimally affected, which should reassure the airline industry.

On the foreign exchange market, the euro is stable against the dollar on Wednesday.Late afternoon in Paris, the European single currency was worth 1.4110 dollars against 1.4100 dollars late Tuesday.

Airbus confident for Le Bourget

Side companies, cyclical industrial and banking resume colors. Renault (+1.65%) leads the CAC 40 in front of BNP Paribas (1.40%) and Societe Generale (1.27%).

Consumer complaints of gas and electricity rose 25% in 2010, about problems with their energy supplier.The mediator of Energy notes that complaints from customers at 43% of GDF Suez (-0.39% to 25.58 euros), 38% of those of EDF (+0.60% at 28.44 euros), 12% of Direct Energy and 4% of customers Poweo (balance to 3.91 euros).

BigBen Interactive (7.56% to 9.68 euros) jumped to the Paris Stock Exchange for its resumption of trading, after reaching an agreement to buy Modelabs, an operation that will allow him to change size and diversification, analysts note.

Airbus and its parent EADS (-1.20% to 22,30 euros) were optimistic Tuesday on future orders at the Paris Air Show in June in a market "active."

Carrefour (-0.03% to 30.28 euros) announced Wednesday the appointment of Mathilde Lemoine to the position of independent director of the group, replacing Jean-Martin Folz, who left the board for divergence of views on strategy.

The French group Alstom and its Chinese joint venture Casco signed two contracts worth a total of 85 million euros for the supply of signaling systems in metros of Shanghai (east) and Kunming (south).

The association of minority shareholders (Adam) who assigned Tuesday referred the saddle Hermes (-0.82% to 174.40 euros) to "deprive" the essential rights to vote at the next family meeting, has been confronted with an invalid procedure and the case was adjourned to July 12.Or after the meeting to be held June 30

Casino (-0.19% to 72.44 euros) denied on Tuesday it had agreed to the opening of the opening of negotiations between the Brazilian distributor GPA, which holds 35%, and Carrefour Brazil.

PPR (1.06% to 119 euros) and Volcom announced Tuesday it had received notification of the end of the statutory review period on the bid of French on the American brand.

Rexel (-0.20% to 17.70 euros) announced Tuesday it had won its bond issue of 500 million euros, whose order book has surpassed 1.8 billion euros.

Eurazeo (-0.30% to 56.07 euros) on Tuesday announced a capital increase, offering its shareholders one new share for 20 old shares held as of May 25, 2011.

The land Gecina (+0.19% at 98.70 euros), in 2nd place behind France in Unibail-Rodamco will continue to sell its assets in Spain and in the logistics industry, said Tuesday its chief executive Christophe Clamageran .

BioMerieux (+0.12% at 78.13 euros) announced Tuesday that the Health Authority (FDA) had recorded rapid testing and automated molecular diagnostic NucliSENS EasyQ MRSA screening for patients infected with resistant Staphylococcus Aureus methicillin.

Europacorp (0.71% to 4.18 euros) will publish its annual turnover, while LCD (poultry) will announce its annual results after-hours trading.

While the rating agency Fitch on Friday downgraded the rating of long-term debt of Greece, and the French minister Christine Lagarde asked Athens to take further fiscal austerity measures, the German finance minister speaks the ability to offer additional assistance to Greece.

In an interview published Sunday by the newspaper Bild am Sonntag, Wolfgang Schäuble believes that steps could be taken for the country if his efforts fail to reduce its debt. This additional support "is only conceivable if it is confirmed that the private creditors such as banks, do not opt ​​out of Greece, leaving European taxpayers to take full responsibility," said the German minister nonetheless. He believes that the creditor countries of Greece must first ensure that Athens is able to overcome its economic difficulties."Only in this case we could, if necessary, discuss an extension (the maturity) bonds that Greece should pay next year," says he.

The inspection visit, arriving in early to ensure that Athens respects the conditions attached to the bailout 110 billion made in the country, had to extend his stay. Officials hope it will make its findings next week but no date has been set. Wolfgang Schäuble also said that the decision to give an additional boost will require the approval of the International Monetary Fund (IMF) and especially that of centrel Bank (ECB).On Friday, the IMF has in effect called the euro area to urgently adopt a more comprehensive range of measures to resolve the debt crisis, but some resistance has emerged towards the ECB.

'Soft' restructuring

George Papandreou, the Greek Minister Pemi must submit on Monday a multi-year plan with new measures to strengthen the fiscal consolidation of the country online payday loan lenders. He hopes to escape the restructuring of the enormous debt that he does not want to hear aujoud'hui, but that markets demand. Unlike the ECB, they are convinced that Athens can not solve its problems by merely the emergency loan of 110 billion euros already granted by euro zone countries and the IMF. Despite a big effort to reduce the deficit last year (five points of GDP), Greece is indeed still in a critical budget situation.

The leader of the finance ministers of the eurozone, Jean-Claude Juncker, is the promoter for this week of a 'soft' restructuring through debt rescheduling. He pleaded over the weekend for the creation of an independent umbrella of the Greek government's privatization program in the country. Athens has planned about 50 billion euros from privatizations in 2015, whose income must be allocated to debt reduction. This option is opposed by the European Central Bank (ECB), fearing that the outright failure of Greek banks, and chain reactions throughout Europe.Dominique Strauss-Kahn, former head of the IMF, was also on the same line.

Determined to "save" his country that he says can work it through his own efforts, George Papandreou is due to visit Paris this week, Tuesday and meet with key political leaders of his country to reach a consensus on measures to be taken to cope with the crisis. This agreement required by the countries of the euro area, however, looks difficult to obtain, the prime minister faced with a sling, even within his own party.

(With agencies)

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This is an internal letter from the Director of Information Systems (ISD) that senior GDF Suez len heard the news earlier this week. In this internal email which Le Figaro has obtained a copy, Véronique Durand-Charlot announced with "deep regret" that "one ISD staff in Lyon, Éric.C, made a suicide attempt "May 14 last.

According to sources inside the company, the man would set himself on fire inside his car in a parking lot near his home. Third-degree burns, he is reportedly in a coma. "He is in hospital care Edouard Herriot and our doctor is on site since Monday morning," says mail sent by management. The latter adds a psychological support has been established on the sites of Lyon and Saint-Ouen."The regular news on the health of Eric will be provided" to his colleagues, says the letter.

"It is too early to know the reasons for his gesture," we said a spokesman for GDF Suez. "This aa place outside the workplace," he held to be redefined. According to the latter, however, the company has declared a work accident as a precaution in order to "enable the regional health insurance fund to take up the issue and facilitate the support of the family."

A few days after the fact, Eric's colleagues. C are safe for their part that this acting out is directly related to working conditions. This framework would have repeatedly sent emails remained unanswered to his superiors in which he referred to his illness, including the day of his suicide attempt. GDF Suez information that does not confirm."We do not know for letters," says the spokesperson of the group. "He suffered from this violent restructuring implemented since the merger of GDF and Suez (2008, Ed)," says the other hand one of his colleagues.

Reorganization

A plan to transform the ISD, is underway since May 2010. An internal company document, sent to employees by Jean Paul Amoros, deputy director of ISD, is particular to a program of reorganization of the industry over the period 2010-2012. It provides, among other things, aims to "reduce disparities unnecessary and costly for the group," "share know" and "improving the career management of the IF chain.The same document gives a clear picture at the end of 2010, "it remains to be completed sites induced désimbrication with EDF and GDF and Suez merger with which some service offerings still weigh on economic performance."

Specifically, this policy would involve processing the closure of some area sites, including that of Lyon where the employee worked to centralize them in the Paris region. Veronique Durand-Charlot, who oversees these changes, confirmed in a company magazine dated May 2010 the need "to optimize internal operations and to propose a new, more integrated, more effective."

More worrying for the employees, the documents indicate a possible spin-off of ISD services between 2012 and 2014 which could lead to outsourcing of the latter.

"Psychological discomfort"

"This is a management that ignores the human," says an executive of the company. Yves Ledoux, coordinator at GDF Suez CGT refers more generally "psychological discomfort" that prevails throughout the company since the merger of GDF and Suez in 2008. "The takeover of Suez induced mutations. The executives from the GDF have moved from an industrial culture to a financial literacy and there are a lot of difficulties, "said trade unionist. "GDF Suez has signed a national agreement on psycho-social risks but they are not declined in the company. It is a semblance of agreement. "Last March, the CFDT also complained about the "social cost" of higher profits posted by energy group in 2010, "social plans in France, pressure on employment in Hungary or Romania, power losses purchase of group employees. These are not measures of facade that will hide the lack of social ambition, "she railed.

On Thursday, GDF Suez sweeping accusations. "The psychological problems are among the main concerns of the group since the merger," said the spokesman. So far only one employee had committed suicide in 2009 but "had nothing to do with work." Since the merger of both companies, "there was no problem," concluded the spokesman.

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