But it is very special and asks a few questions

TF1, audiovisual law, relations with the President of the Republic, real estate, Bouygues Telecom, Alstom-Areva... Usually very discreet, Martin Bouygues scans all subjects that the news of the group over which he presides in an exclusive interview to the "echoes". Book, in addition, his analysis on the current crisis and was confident in the capacity of the various trades of Bouygues. Next year, the Group has recruitment of 10,000 to 15,000 people, including 8,000 to 10,000 in France.

You are the oldest Executive boss of the CAC 40, the crisis looks different from others

Crisis, I have seen several since I took the leadership of the group in 1989. But it is very special and asks a few questions. How, I wonder if few people were able to put the entire planet on the roof in so little time. It may be related to a lack of regulation, but should not obscure the issue of liability. On the merits, this crisis is a brutal, with an important global contagion effect. But, because of this brutality, the cycle may be long. If 2009 will be difficult, the situation could unravel in 2010. Let us not forget that the France is in a more favourable position than other countries. French bankers cross, on the whole, the crisis in a rather satisfactory manner and were cautious in real estate.

The action of Governments you think it at the situation

Yes, the public authorities of the major Western countries since the summer took emergency measures to prevent savers lose out. Stimulus packages announced these days, they include steps to relieve the economy and make sure to reduce the impact on employment. It was essential.

In real estate, precisely, the crisis became acute...

It is remembered that the French real estate market is much less affected than the American, British or Spanish markets and that the rate of non-repayment of the loans by borrowers remains one of the lowest in the world. Moreover, unlike the crisis of the 1990s, this time there is more than merchants of property and the stock of unsold housing remains very low to date. Land prices will fall and it is a good thing for the purchasers.

How is the Group

In real estate, we suffer less than average sector, because of our prudential rules and our positioning in a customer segment, the middle and bottom of range, which is less affected. In the BTP, I note that the evolution of our markets is not so bad. Our commands at the end of September are good, their level throughout the year will be very satisfying and it is true for the France and the rest of the world. There was also no net decrease in the volume of business under negotiation to determine orders for next year's harvest. The group is therefore rather well, we plan to recruit year next of 10,000 to 15,000 employees, whose 8,000 to 10,000 in France, for all our activities apart from Bouygues Immobilier and TF1.

The Government is making audiovisual legislation that liberalizes the regulation. Are you satisfied

You have to see where it comes from! Currently, TF1 is unique in the world regulatory constraints. In no other country there is as much of the television regulations. The problem is that this over-regulation applies specifically to TF1: M6 is not all obligations that we and I am even not the digital terrestrial television channels which have very little and that, for some, does respect not... The regulation of today the European limitation, The rules of the game have changed. When the Government said that "to rest questions about these obsolete regulatory constraints", I can only endorse.

That you reply to those who say that this law is very positive, that the Government made "gift on gift" at TF1

Gifts I see no. For the moment, it is crushed by the weight of the regulation. There are three products overtaxed in France: gasoline, tobacco and advertising on TF1 (laughs)! Honestly, I would like it tells me what did TF1 to earn it. I remember that our competitors of the TNT will not be taxed as TF1 is. And other media that are advertising and with which we are in competition are not taxed at all. While we, we will be taxed twice for France Television: once the go on TF1 at 3, once back to 0.9 on Bouygues Telecom!

Will not the deletion of France television advertising benefit the private channels

TF1 can expect additional advertising revenues Everyone said yes, it is safe! For my part I don't know anything, advertising market is very difficult to predict for 2009 and it is in recession. Say clearly in the Act that, if there is additional revenue, TF1 will be taxed and that if there is not it won't. In this connection, I have read the statements of Patrick de Carolis (President and CEO of France television, Editor's note): "the lobbying of TF1 and M6 is shocking and indecent." If our competitors could get us the top foot as it crushes a cigarette they would... "Me, I say that Patrick de Carolis has completely lost his nerve. I am very shocked by this statement. The current debates in the National Assembly are also shocking: we are insulted on a daily basis! I demand a little respect: Bouygues is a group which has existed since 1952, which employs 150,000 people and participates in economic development and the influence of the France. It is very poorly experienced by employees of Bouygues, who wonder: "who the people do us".

Have in you spoken with the President of the Republic

I know Nicolas Sarkozy for a long time, it is true. I am aware that our relationships must not constitute an advantage for the Bouygues group. But this should not be a handicap.

Bouygues Telecom is now the third mobile operator in France. You don't see always a good look at the Free application for the fourth license

First comment: when I compare the profitability of each and the other, I find that Free is much more profitable than Bouygues Telecom. If more competition and lower prices for the consumer, Free would be already well inspired to somewhat reduce margins on ADSL before thinking to come on the mobile. Second comment: deploy a network 3 G to 1 billion euros, as Free States, seems to me impossible, except to the cuckoo on the network of operators in place. Third comment: put in place in the city, of new antennas for a new network is not feasible in view of the environmental pressures. Fourth comment: If the Government allows a new entrant to the ultra - "low cost" in the mobile, it takes a heavy responsibility. Term, a price war may cause 10,000 to 30,000 losses of jobs among the operators. These are choices heavy consequences, especially if it is to promote someone who is not investing! In 2008 alone, I said that Bouygues Telecom has invested EUR 800 million in its network. In thirteen years, Bouygues Telecom created 8,000 jobs, not to mention those of subcontractors and suppliers, and invested more than 6 billion euros for its network.

Consumers to reduce their spending in times of crisis, the telecommunications sector is threatened by the economic downturn

For the moment, we are not affected.