Probably more than the situation warrants

The world through a crisis also serious, said, that of 1929. Is this also your opinion

The world is particularly dark, gloomy, depressing at this time. Probably more than the situation warrants. Fear prevails over greed. The last quarter of 2008 is already difficult. But 2009 is poised to be ten times more! However, as often the reaction after such a vague negative may be also violent in the other direction...

While the crisis has come to the United States, Europe seems to pay a heavy price. How do you see the suite

With regard to Western Europe, I will remain pessimistic as long as there is no significant structural changes in social legislation and regulation. And so it will be more flexible in our methods of restructuring to be more competitive. This applies not only to the France, the Germany or the Italy, but also for the United Kingdom, which has become too rigid. WPP has thus decided to move its headquarters to settle in Ireland, where it does not tax profits earned abroad by the multinational. The world is mobile, the country must be taken into account.

Are you also pessimistic for the United States

No, because it is always dangerous to underestimate the ability of rebound of the American people. The United States also receive a demographic dynamism that contrasts with Europe. With regard to the American economy, between risk of recession and hope to rebound, I keep me decide...

And China

China, it is the Google of the world. Nine country does not have to bear the weight of a heavy legacy. Even if the slowdown is felt, China, like the India, still areas of strong growth. We must draw the consequences. This is said President Nicolas Sarkozy at the meeting of the g-20, when he stated that the balance of power in the world was reverse.

We've seen this in the past, but in our favour. We must remember the lessons of history. For centuries, China has dominated the world industry of porcelain, known also as "china" in English. Then, late 19th century, the Germany, imitated by other European countries, took over and the Chinese industry has completely disappeared. The same is happening before our eyes. But it is our industry disappearing in favour of the Chinese. We have to adapt to this profound mutation. But it should not be illusions: the next generation of Europeans, unfortunately, will be relatively less wealthy than our generation... Between rich or happy, one must choose. It is difficult to have both. Even less if we do not accept suffering at least a little.

Idéalisez you not a little China

China has shown that capitalism led by the State could operate. It is strong. Very strong. The India is perhaps the first democracy in the world, but China, which is already our third largest market in the world behind the United States and the United Kingdom, a day will be our second market. Growth may well slow down a little. But when the Chinese economy recorded growth of 10, advertising market jumps 20.

Many countries implement the stimulus policies. There do you

I was a few days ago in Washington. I met Larry Summers together Editor's Note: selected by Barack Obama to lead the White House Economic Council and Henry Paulson Treasury Secretary which said exactly the same thing: the US economy received a huge financial shock, but massive government interventions came to his rescue. These were necessary. Is this a good thing in the long term I cannot help but see an irony of history. In the 1970s, to the United Kingdom, the reorganization of the industrial sector was redesigned by government authorities. It did not necessarily very results...

When will we see the results of these policies

I think that the resumption of the real economy will be in 2010. As stock markets, they do not rise in one year, but within three to five years. I recently participated in a survey of 100 CEOs from major international companies. A very small percentage felt that the crisis would last only six months. Others shared into two equal blocks: those which provide a year of crisis This is my case and those who believe that it will last at least two years.

When you have a business, without falling into the naïve optimism, you do not show you depressed but, rather, to respond. When the situation is difficult, should not simply be, take vigorous measures. It is essential in a group like ours which has 130,000 employees in 106 countries.

Have the markets lost their bearings

A little... Markets provide "armageddon" or "Apocalypse now"! At the moment, what is the stock market, is that says it that the year will be very difficult, that the

turnover will be reduced and that you will save $ 1 billion...

What judgment wear on the election of Barack Obama

It reminds me of 1962. I was seventeen years old and John Fitzgerald Kennedy had just been elected President. I believe that the election of Obama a the same positive psychological impact on today's young generation. As advertising, I would add that this election also has an immediate positive impact on the image of America. The Obama brand is outstanding and has already changed the perception of the United States.

As such, forget not that to be elected, Obama including relied on trade unions, who provided large battalions of activists during the campaign. It will take that he thanked them. Or at the time where the economy slows, the industry is suffering, should not be that America gives to the protectionist temptation. Obama is a man of dialogue, he will begin by talking with the rest of the world, this will limit the risk of misunderstanding. But a good portion of those who elected him are especially receptive to a sometimes populist speech: it is a point on which need to be vigilant.

Beyond the protectionist threat, are - you worried for businesses

Can grind black and anticipate the worst, but the world is still full of growth reserves, both geographic and that technology. Advertising may slow in the traditional media but continue to grow in new media. Some countries may curb while others accelerate. The key, today, for all companies, is to be able to adapt at the same time that geographical and technological change. It must be "terms" and multinational. Those who are on a single technology in one country won't go far. Regardless of their sector. Look in the media, a group as News Corp., Rupert Murdoch was able to develop both in television, the Internet, the press and around the world.

Will the crisis curb the movement of consolidation in the advertising world

On the contrary, it is very possible that the crisis accelerates the movement of consolidation. Today, we are number one with sales of approximately $ 15 billion. Omnicom, with $ 13.5 billion, boxing in the same category. Our prosecutors are much later. In my view, consolidation is natural. Interpublic and Publicis on one side, Havas and Aegis in the other are made to agree. In this sector as in other financial pressure will be exercised and push for consolidation. For us, we are busy enough with the integration of TNS. We have the critical size and we changed status. With TNS, we become a genuine consumer research specialist. We have tools and analytical data to provide our customers the information they need. We are a traditional advertising agency.

What perspective do you wear on your French competitors

On one or two big recent contracts, Johnson & Johnson or HP, it is more Havas as Publicis we found from us. It is clear that Havas woke. They were released under tension by Vincent Bolloré. They are more aggressive and the report of strength is reverse in their favour to Publicis. Havas was low, it is more. And it will be still less the day where he will be able to integrate Aegis.

This eventually get you

Vincent Bolloré has the time and money. It could take Aegis today if he chose. It is probably only a matter of time.

In this more "technological" advertising universe, is your main competitor not Google

Google is already a threat this year as last year. The financial crisis weighs on them and on the market of advertising online, of course, which will continue to grow, but at a lower rate. Google is seen that people are certainly of more Internet searches, but the increase in the "clicks" on the sponsored links is not progressing at the same pace. Look at the market capitalization of Google, in a year it has melted half for ironing below $ 100 billion. Google is what I call a "friennemy", a friend or foe. They also need allies and they are more willing to work or conduct research with us.

In the end, regret what have you

When I was a student, one of my professors, Henry Cabot Lodge, had warned me. Life, he said, is made of three circles: family life, social life and working life. A life successful, it is a life to marry perfectly the three circles. On social and professional, I have the feeling of having little to complain. On the family plan, I must admit that the result is less convincing. Rare are those who succeed on three fronts. In life, are juggling three balls. And sometimes the sacrifices.