“Sarkozy forces the bankers to retreat,” is the headline in today’s Aujourd’hui en France.

He met the bankers yesterday at the Elysee Palace and told them he was appalled and scandalised to see them falling into the same pitfalls of irresponsible behaviour that were the hallmark of the pre-crisis era.

A system of “bonus malus” is to be created for traders whereby only a percentage of the intended bonus will be paid out in any given year pending the results of the following year. So if in 2010, you earn a significant bonus and in 2011, your results as a trader are poor, then the 2010 bonus won’t be fully paid out.

Another result of yesterday’s meeting, BNP Paribas has halved its envelope of 1 billion euros intended to go towards bonuses.

Banks will also have to contribute to a €200 million state fund for companies that are in difficulty.

What’s more Sarkozy wants his approach to the banking sector to be adopted by the G20 countries. Pressure will be put on Obama at the G20 summit in Pittsburgh next month to up the ante on banks.

In Le Figaro’s editorial the paper says the message to the banks is extremely firm.:“Earn less and lend more” and we won’t work with you if you don’t put in place these measures.

Pittsburgh will be a test for the big powers, it concludes. “It is now time that their tough words translate into actions when it comes the financial sector.”

Today’s Libération is dominated by a “call for a popular primary open to all citizens of the left!”

Terra Nova - a think tank linked to the Socialist Party - today publishes its call for ‘primaries’ to designate a Socialist Party candidate for the next Presidential election in France or even a candidate for a Leftist Coalition should the Greens and other left wing parties want to participate.

3.5 – 4 million people would be asked to vote in a very broad coalition.

Why is this a big deal? Well, it has rallied several big names including the mayor of Paris, Bertrand Delanoe, Arnaud Montebourg, Pierre Moscovici, the Green Party and the Modem Centrist Party. Statistics show that 70% of Socialist Party voters now support this method of a broad democratic vote to designate a Left-leaning Presidential candidate.Opposition within the party, expressed by Martine Aubry and others, is now quietening.

In the past those nominated such as Segolene Royal were voted in by paid members of the Socialist Party. They were known as ‘20 euro militants’ (the fee one had to pay to be a full member of the party). Now, it would be opened up to a much broader electorate and would therefore, it is hoped lend much greater legitimacy to the selection process and create a dynamic energy around the eventual candidate.

According to results issued by TOEFFL - that’s the test of English as a Foreign Language results - the French come in at 69th in a global league table for English ability, reports Le Monde. And out of 43 European countries, France comes in at 25th. Not so hot, it must be said. In Oral Exams, it’s worse still. Only Cypriots, people from Monaco and Italians express themselves less well. Vive la langue française!