And to produce more we need to work more

After the crisis social major that she comes across, the France is unable to reform itself

I do not think so. If the fact France yet a party, despite its difficulties, prosperous nations, it is because its businesses and their employees were able to adapt. That the French were able to achieve companies as employees, they should carry out as citizens. It is a question of method. Unfortunately, the CPE crisis illustrates the weaknesses of our collective practices. She did not advance the debate, yet vital, on the means of bringing the France to growth and employment. Most of the other major countries have experienced difficulties similar to ours and them were processed through the reform: it is impossible to solve the problems of the 21st century with the revenue and the minds of the 20th. The crisis has underscored the need for a better dialogue between Government and social partners. May it promote a genuine understanding of the interests of the French, leaving less space merchants to illusions.

Do you think that further consultation would be sufficient to accept the reform

To lead change in the business, we need to gather several ingredients. A mobilizing project, the values that give meaning to the action, and a method based on the consultation and communication. The consultation, to identify problems and provide appropriate solutions. And communication, to ensure adhesion and mobilization. Therefore, most large French companies are deeply transformed without major conflict. Social dialogue is a permanent reality. At the national level, the reform also implies an important work of explanation to the public. The problem of our pensions could begin to be treated, is a great effort of pedagogy. And then the French ethnocentrism is also a blocking factor. If we were aware of progress, in terms of collective prosperity and employment, countries which were able to reform itself, we would be more inclined to accept the change. We are sometimes believe that these reforms are the preserve of countries with different values of ours. But they were promoted by nations Sweden, Denmark, Finland, etc to the very similar aspirations of those of the French.

Are companies not too absent from this debate

The Institute of business, centre of reflection of men and women of business, will intervene in the agenda of the presidential election that major economic and social problems to occupy their rightful central place: including the reform of the State and public structures; deficits and public debt; employment, education and research.

Is this not the role of the Medef to the voice of the business

Of course. The Institute of the company is a "think tank" independent. It is Medef is trying to identify common worldwide very positions various business. Laurence Parisot, its President, get there very well. Adopt reasonable positions in their expression and corresponding to the sensitivity of his generation. It is essential that companies are in the public debate a place consistent with their role in society, i.e. the source of all wealth and employment creation.

The SCE was intended to help young people enter the world of work. For the business manager that you, are there other solutions

It is essential to reduce unemployment, undermining our society. More broadly, our growth and our purchasing power will depend on our ability to work more. If our performance for growth, employment and purchasing power have become lower than our expectations and to those other countries, it is that we have less worked. The France is the OECD countries where the number of hours worked per capita is the decreased between 1970 and 2002: it declined by 23, compared to 12 on average for the European Union, and a consolidated for the whole of the OECD; in the United States, it has increased by 20. With the increase of our workforce, we have limited the negative effects of this reduction on our growth. But our labour force will decline. Except to change our practices, our potential growth will drop by 2 to 1.5 per year. And to produce more, we need to work more.

BNP Paribas recruits many. What do you think of the anonymous CV

In 2005, the Group recruited 4,000 people in France, and in the rest of the world. Signatory of the Charter of diversity, it recruits many collaborators from the "visible minorities". I do not think that these are regulations that will bring solutions to the problems of our country. The real problem is that our school plays so well that in the past the role of social elevator. The more modest families, including "visible minorities", should have the sense that, with the school, their children will have a situation in society and a life better than their: this belief was one of the engines of the thirty Glorieuses. However, some children out of school without mastering the common base of indispensable acquired. One school at the other levels are very different. The credentials themselves are no longer a homogeneous value. And this is generally more harmful for the children of underprivileged families for those affluent environments. It is a failure for any society that make success available to a student gifted modest environment.

Five months after the publication of your report on the drift of public finances, are you not disappointed with the absence of any concrete measure

Our report the collective work of the commission that I chaired has been quite welcomed by the press, and in the forums where I presented it, the economic and social Council including. In January, the Prime Minister convened a Conference of public finances to mobilize the administrations concerned and announced its intention to curb the trend of expenditures in the 2007 budget. But the essential is that we the French take

awareness of the importance of this problem and the urgency of a change of course after twenty-five years of deficits. It is awareness of opinion resulted in reforms in other countries.

It is still far from a sense of urgency...

And yet, the time available. If nothing changes, the ageing of our population will increasingly limit our potential growth and disrupt our social systems. To strengthen our economy and our social cohesion, we must restore order quickly our finances, which will make its effectiveness to our public action. It must be a central topic in the next presidential debate.

Being in debt, is - this must be negative

Step in itself, but when the interests of the public debt absorb all of the proceeds of the tax, it is high time to worry! As this debt is not an effort structured for growth and the preparation of the future, but the choice of the facility, to compensate for insufficiently rigorous management of public spending. For ten years, we are the only country in Europe of the fifteen not reduced or stabilized its debt, with the Germany, who had to digest its reunification: it increased by 10.5 points of GDP to reach two thirds of it. If we do not change our practices, it would reach 100 of GDP by 2014, 200 in 2030 and 400 in 2050! But lenders sanction us well until we arrive there. By continuing to go into debt, the State become more vulnerable to the increase in interest rates, which the current level is historically low. A sustainable increase in rates could have long-term devastating effects.

... devastating

Yes, because in a situation of crisis, and to avoid market concern only will lead to demand a higher risk premium which would weaken even more Government and economy, should, in the Emergency Department, find tens of billions of euros of savings or new taxes, which would destabilize our economic and social model.

What are the reasons for the drift of public finances

Loose management of public spending, which has, for the commission, two explanations. We are constantly creating new public interventions and new structures, at the central level as at the local level, without remission in question already exists. Most importantly, our political and collective practices lead us to choose the public expenditure as a systematic response to all our problems, including problems of society; public action is decided on two criteria: the amount of the promised additional resources and the speed with which they are announced.

What measures do you recommend to reduce our debt

We have proposed to order in five years our public finances, refocusing our spending towards areas more useful to growth, the preparation of the future, and our social cohesion. It must be that our public sphere adapts to the challenges of the 21st century, as do its counterparts in foreign countries. The effort must be shared between all jurisdictions. The State should reduce its deficit, which represents 16 of its revenues, stabilizing its expenditures in current euros. Social systems should return to balance, and the territorial communities contribute to the effort. This involves a reconsideration of the missions of the State as a whole and the effectiveness of the corresponding expenditure, under the authority of the Prime Minister, and a mobilization of the Parliament on analysis critical of the execution of the budget. The new organic law on Finance Act provides an excellent tool for such a policy.

Abandonment constraints of the euro it is not a solution.

Certainly not. A country that would out of the euro with a deterioration of its financial situation would be penalized in terms of interest rates. And, its debt would be denominated in euros, which would become for him a foreign currency: any depreciation of its currency would result in an increase to its stock of debt.

BNP Paribas has just completed a significant acquisition in Italy, what look do you wear on economic patriotism

For a large company, the best way to serve his country is to shine at the global level. BNP Paribas is now a global company, by its activity, its employees, its benefits, its shareholders. Our French banking activities are more than 20 of our net income. But we France our major centres of decision and 10,000 of our employees is involved in jobs related to our globalized activities. We recruit is massive, and we create jobs. We have the bulk of our it investments. At the time of globalization, cross-border transactions are in the nature of things, especially within Europe. Just that such operations are winning for both parties involved. In some sectors such as defence or energy, it is normal that the public authorities to ensure their compatibility with the national interest. For others, it is less. Do not be naive. Europeans must be able to defend their interests.

Euronext enters the category of companies to protect

It is not stricto sensu of a hexagonal subject, since Euronext already collects awards in several countries and is based in Amsterdam. But Paris, which is an international financial centre, has interests to defend, for example for the stock market. It is normal that, as elsewhere, stakeholders are concerned about the location of these activities.

Is the redemption of BNL BNP Paribas the sign that bank consolidation is underway at European level

I'm not sure: there is not yet market integrated retail in Europe, due to regulatory and tax divisions. And the opportunities for acquisition of banks in Europe are rare. Using BNL BNP Paribas seized an opportunity, as UniCredit German bank HVB. It gives us a rare competitive advantage of having two large domestic markets in Europe for all our activities, the France and the Italy. This opens up considerable prospects for development.