Christine Lagarde is more than ever determined to "increase the firepower of the International Monetary Fund", that its financial resources. But if the euro area "is the epicenter of the potential risks" of the global economy, "Europe is not the only one? We are not obsessed with a region "said Thursday in Washington, executive director of the IMF during a press conference that opened two days of spring meetings of IMF and World Bank.

Capacity building support from the Fund will be the highlight of the discussions to be attended especially the G20 finance ministers. Christine Lagarde has renewed its appreciation to Japan, "the first country that has decided to commit themselves" to the tune of 60 billion euros, while acknowledging "the Scandinavian countries who responded to the call and Singapore."

The Japanese contribution is the first quantified commitment to a non-European. This is in addition to those States of the euro area itself, which from the outset, have said they would put 150 billion euros in the pot (just under $ 200 billion). But Christine Lagarde, who had advanced earlier this year the figure of 500 billion, reduced its ambitions "to just over $ 400 billion" figure it has itself argued in an interview Tuesday Italian newspaper Il Sole 24 Ore.

Bilateral borrowing agreements

The negotiations will be very difficult and should not be concluded this week with the aim of reaching agreement at the annual meetings of October 2012 in Tokyo. On behalf of the United States, Tim Geithner, Treasury Secretary, said two days ago that his country "would not put money" but would support those participating in the operation. Recall that this strengthening of resources take the form of bilateral loan agreements with its 188 member countries (including the last admitted this week is Southern Sudan). It is not a capital increase of the IMF, as such. Now this is where the rub the side of the emerging countries, including China and Brazil, who would like to link this extension means the Fund to an expansion of their representation. Now it is even less question that the last reform of 2010 increasing quotas and powers to the board in favor of emerging countries mainly, has still not been ratified by the necessary majority. Within the G20, Argentina, Canada, Germany, Indonesia, Mexico and the United States, have not yet ratified, do we reported to the IMF.

Christine Lagarde must also combat the widely held in international public opinion that the firewall is only designed to help Europe, Spain and Italy, among others. She also found that Spain does not need assistance plan "for now".

Executive Director of the IMF insisted on Thursday the new initiatives launched recently, as "the trust fund for the poorest countries", mentioning also "the five countries of the Arab Spring, for which we need more resources." But the difficulty is to find a common agreement with the governments, especially with Egypt, for which the loan of $ 3.2 billion from the IMF, which should be a catalyst for international aid, is still pending .

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"If we do not respect the line to reduce our deficits and our debt to the minute interest rates will rise." Wednesday, Nicolas Sarkozy has gone a step further in the dramatization. After Francois Fillon, who suggested Tuesday that a hint of victory would boost Francois Hollande attacks against the euro area, the president candidate has warned against any slippage in the path of fiscal consolidation.

To raise the specter of an uncontrollable ascent rates, the current majority is based on digging for a few days the gap between interest rates ten years French (2.93% on Wednesday) and German ( 1.79%). At 114 basis points, after reaching 135 points Tuesday, this spread has actually widened over 30 points in a month.

Should we see a sign of growing distrust of markets in anticipation of a victory for the left, and expect a speculative attack against France after the second round? If the debate on this subject undoubtedly grows, nothing concrete has yet support this thesis. "The widening gap in interest rates between France and Germany is primarily due to lower rates to ten years German, while at the same time the French rate increase very little," said Patrick Jacq, BNP Paribas. In fact, France borrowed Wednesday cheaper than January 1 – the rate at ten years then stood at 3.20%. At the height of the crisis in the euro area, last fall, the OAT to ten years had reached a yield of 3.70% and the gap with Germany was around 190 points. The position occupied by Francois Hollande favorite in the presidential polls did not even affect the bond markets.

The fact remains that, beyond political considerations alone, the French debt will find itself under strong pressure in the coming days. Several factors will combine. The first is technical. As of Monday, April 16, the derivatives market Eurex will boost the marketing of futures contracts on the OAT need a personal loan with bad credit. Some see an opportunity for traders to speculate on France. "The danger is actually involved as a hedging tool transformed into an instrument of credit risk management," says Patrick Jacq. In other words, that some operators are betting on a French credit event.

Community constraint

Precisely, the second is the threat to a likely downgrade of France by Moody's, which can occur anytime during the next four weeks. On this theme, moreover, that the Socialist candidate responded to the attacks of the UMP: "If there was loss of triple A, is due to the left or right because of?" , asked Francois Hollande in response to declining rating by Standard & Poor's mid-January.

But the main constraint to be exercised on the French debt will be at the community. By coincidence, in the days following the second round, the European Commission must publish its report on the growth prospects of French public finances. However, this report will not consider the program of President-elect. "There is a risk that this be interpreted by markets as a distrust of the new president," worries do we camp in the Netherlands. In fact, it is on structural reforms of the future government that markets deem the French debt. "The benchmark in Europe now, it's Mario Monti and his reform of the labor market," says a senior European official. From this point of view, Francois Hollande is a real risk, arguing such measures as hiring officials or the questioning, even partial, of the pension reform.

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The Nuclear Safety Authority (ASN) announced tonight that it has raised its system of crisis to the nuclear Penly, Seine-Maritime. Yesterday, two fire starts in a reactor caused a leak of radioactive water on an attached cooling system. The water was then collected in tanks provided for this purpose inside the building. But following the intervention of the EDF teams and firefighters, "since 4:00 this morning, there is no leakage at the joint of the pump," EDF said in a statement this morning. "This return to normal on the cooling system has removed the internal mobilization plan at 5:15 this morning."

The reactor, cooling down, remain stationary between 4 and 10 days, time to repair the pump circuit and "understand what happened in detail," said the AFP Dominique Mining , director of EDF's nuclear fleet. "The teams were able to re-enter the reactor building" during the night, he said, adding that "there is light, there is no smoke." The repairs could be made from this weekend.

Someone slightly burnt

The ASN provides that "the incident had no impact on the environment" and listed in Level 1 ("anomaly") on account that the seven nuclear safety INES scale.

No radioactive contamination was detected on the 29 persons involved in the reactor building to extinguish the fire starts but one of them was slightly burned during surgery, said last night the Director General of ASN Jean-Christophe Niel. "This is an injury limited" according to information from EDF, he said.

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According to information from latribune.fr, Chinese investors close to power would be interested to buy four luxury hotels in Paris, currently on sale, and pass under another brand. Be included among them the Hotel Napoleon, located near the Arc de Triomphe.

Of the three other hotels in sight, one would be part of those whom the investment fund Starwood Capital is selling. He said it would be seller, in Paris, the Concorde Lafayette, the Concorde Saint-Lazare and the Hotel du Louvre. The U.S. group is not confirmed nor denied.

These potential acquisitions by Chinese would be given a new upheaval in the Parisian hotel that lives right now. Starting this summer, the Crillon close to work, closely followed by the Ritz cash advance loan no fax. The Plaza Athénée, he decided to postpone its work. Needed a facelift after arrival on the market of new facilities, new or renovated, the Royal Monceau (Qatar), the Shangri-La and Mandarin Oriental, who aspire to the title of "palace".

Two other luxury hotels are coming on the market and confirm the increased presence of Asians in the small world of luxury hotels in the capital: The Peninsula Paris, the first hotel chain in Europe, Hong Kong MSM and the White Horse, LVMH.

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1040 new aircraft worth $ 145 billion. This, according to the latest Airbus market research, the need for airlines in India in the next twenty years. Of these, the vast majority of planes (860) will be ordered to meet the growth in air traffic – to + 7.2% per year, it is already growing faster than the average in Asia (5.9%) . In total, the current fleet will more than triple to 1080 devices.

According to Airbus, the airline purchases will be predominantly (646 copies) on medium-haul aircraft type A320 and A320 Neo (version remotorisée). It to meet soaring domestic traffic should move quickly on a rate of 10% per year, which will make India one of the strongest markets in the world. The European manufacturer estimates that the market for 308 long-haul A350-type and 66 copies of the ultra-high capacity aircraft type A380.

Two giant orders

Airbus hopes to win a beautiful place in this promising market. Already, the European manufacturer claims "70% market share of new orders," his "ambition is to retain its leadership in the Indian market." To support its strategy to win business, Airbus has established local partnerships for forty years. It is manufactured locally A320 passenger doors, his best-seller. It is also recruiting Indian engineers in its Engineering Center opened in 2006 in Bangalore. The manufacturer employs 270 in total and has to hire another 180 by 2014.

Airbus' strategy has paid off. In 2011, the manufacturer has scored a major coup by winning two giant commands from Indigo (180 A 320 150 of Neo) and Go Air have ordered that, between them, 252 units.

Two threats

But the clouds on the horizon. On the one hand by the poor health of major customers such as local Kingfisher.Depuis his birth in 2005, the company has never made any money – it lost $ 90 million in the third quarter of fiscal year – and has accumulated a debt of $ 1.3 billion. Kingfisher international flights still canceled Wednesday, postponed delivery in 2014 of A 380 and ordered it does not exclude cancellations. In total, current orders are of 32 A320s, 20 A330 long-haul, long haul lonq five A350s and five A380 super-jumbo. The company promises tonight released a recovery plan within two to three days.  

Moreover, the implementation of the carbon tax by the European Union in January, also poses a threat to aircraft orders. Just as Beijing has frozen the purchase of 45 Airbus A 380, including 10 of its airlines, New Delhi is opposed to this tax. India may decide to retaliate. It threatens to bar its airlines to fly to Europe.

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The French prefer cats to dogs. This is what emerges from the latest survey by TNS-Sofres on behalf of Facco (Employers' Federation of manufacturers of prepared foods for dogs, cats, birds and other pets).

The number of cats is increasing (923,000 in 4 + years) to reach today 10.96 million topics at the expense of the dogs. The strengths of these are still in decline (- 488,000 in 4 years) and amounted to 7.59 million.

However, this view does not reflect a lack of love for the canine species from the French. It is rather an awareness of the responsibility that owning a dog that would be the main reason.  

Masters of free and responsible

Masters of increasingly responsible if one judges also by the rate of sterilization and that the investigation highlights that increases steadily year on year to 32.5% of the total population of dogs (or + 3 points compared to 2008) and 74.2% in cats (+ 2 points).

18.3% of non-dog owners believe that it can cause "problem when they go on a weekend or holiday." This may explain why the small breeds, the "boilerplate" are increasingly the coast.

The investigation revealed that Facco "dogs live mostly in homes of average size [in] rural areas, in houses with gardens. There are more often than in the past someone at home during the day. Cats, they are found mostly in medium-sized families living in rural areas in houses with gardens. "

The other reason cited for not acquiring a dog is "the commitment it represents over several years" for 11 no fax payday loan.8% of respondents.

Older, supposed to have more time, not "crack" not easier for a dog. The survey observed an underrepresentation of the age group over 55 years. "This age group made up largely of retired, healthy, and with a comfortable purchasing power, is a traveling public, which focuses on outdoor recreation and is therefore looking for a flexibility, "note the analysts Facco.

Cost and maintenance: a pattern little mention

And although some purebred dogs reach very high price to buy (up to 4000 euros), as also the care and maintenance budget is also taken into account, provided, "the cost of acquisition and maintenance of the animal is not a discriminating factor as a result of non-possession is cited as most important by only 2.9% of non-owners, "notes the survey yet. 

The maintenance cost to maintain healthy animals do not appear as a brake, it is also parallel to remind the French are only about 4% to ensure their pets by taking out a contract for Animal Health allowing reimbursement of veterinary fees for accidents or illness.

A rate that is struggling to "take off", France accused in this area lags behind compared to the UK where the rate of health insurance for 30% of animal owners, and … 80% in Sweden.

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Apple plays spoilsport. Tuesday night, while most manufacturers of tablets showed their latest Mobile World Congress in Barcelona, ​​the media were invited to attend the following week, the launch of the next iPad from San Francisco.

For four days, the electronics giants have yet done everything to make us forget the iPad and mark their difference. Two of them, Samsung and LG, have chosen to deliver their new tablets with a stylus, following HTC, which was launched in the last year in this niche. This accessory, which allows you to write or draw and more accurately on the screen, is rejected by Apple, who believes only the touch screen.

Much of the Samsung booth and was dedicated to the Galaxy Score, available in two versions. The smallest, launched in October, is midway between the tablet and smartphone (screen 5.3 inches diagonally) and can act as telephone. The new model, twice as large (10.1 inches), is a format closer to the iPad. Samsung will install software specifically developed for the stylus and a suite of creative software designed by Adobe.

LG, whose stand was a short walk from the Samsung, also gave a large place with a touch pad accompanied by a stylus. Also able to act as a (big) phone, the LG Vu takes a screen in 4/3 assumed to be more enjoyable to read books or magazines. Initially sold in South Korea, it will come with tools for professionals, facilitating note taking and annotation of web pages.

No innovation in displays

Apple's other competitors, who have not succumbed to the fashion of the stylus, for their part have chosen to focus on the graphics power against the iPad fast cash advance. Chinese Huawei and ZTE, prominent during the Barcelona show, presented every two shelves featuring quad-core chips, twice the current iPad. Asus has preferred him with originality Padphone, a laptop that can turn into a tablet or smartphone.

During the show, no manufacturer has, however, ventured into the field of screen resolution, where the iPad 3 is highly anticipated. The new Apple tablet should indeed be able to display twice as many pixels on the same surface, and achieve the same quality as the high-end smartphones. This type of screen, says "Retina display", is more complicated to produce, and therefore more expensive. It could cause supply problems iPad 3, as the site DigiTimes.

Apple's competitors have proposed no major advances in the software. They are in fact dependent on advances of Android, they do not control development. However, the system suffers from a lack of applications and is not yet as attractive as in smartphones, has recognized the head of mobile at Google, Andy Rubin. In two years he has sold 12 million Android tablets, against 50 million iPad. To reverse the trend, Google wants to encourage developers to write software compatible with all types of screens.

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The end of the franc is big to the Treasury. The latest * franc notes were redeemable at branches of the Bank of France until February 17 at midnight. Ten days after the end of the countdown, the institution is taking stock. A total of 1.5 million tickets have been reported for a total value of 378 million francs (57.6 million), from 1 September 2011 and the deadline of February 17. According to the Bank of France, there is 55 million franc banknotes in circulation, hidden under the mattress, forgotten in old bags or kept by collectors nostalgic. A nest egg estimated at 526 million euros.

And this balance, called "base emission" will be donated to the State. Indeed, the notes and coins in circulation are considered a debt, on the liability side of the central bank. "To annulerla debt, the value of the tickets not presented for exchange is repaid to the State," said the Bank of France in a newsletter. All these francs lost, forgotten or become so jealously preserved revenue to the exchequer.

The countryside of the Banque de France will not have been very successful, despite his repeated reminders to the holders of francs in recent months and the creation of a dedicated website (www.jechangemesfrancs.com). The franc banknotes still in circulation became indeed a treasure of 602 million euros in late 2010. Yet the French had thrown at the offices of the institution's approach to the deadline. "Just under 200,000 cuts were exchanged in December 2011, but nearly 367,000 in January 2012 and 733,000 cuts on the first 17 days of February," says the Bank of France. A record was set on February 17, with 91,000 tickets reported.  

The large denomination reported mass

For latecomers or those who have not managed to get hold of these small economies too well hidden, they have "no choice but to keep their tickets as a souvenir or sell to coin collectors," warns we at the Bank of France. But beware, all tickets will not take the value. "Better to have kept the cuts of 20 francs or 50 francs Debussy Saint-Exupery," said Michel Prieur, specialist of currencies within the Compagnie Générale de Bourse (CGB.fr). Now demonetized, only small values ​​will make a "margin buxom." A lesson that apprentices numismatists have understood. "Two thirds of the reported cuts are notes of 200 francs and 500 francs," says the Bank of France, which states that "the average volume of trade amounted to 15 tickets per transaction, for an average value of 3627 francs (553 euros). "

* The range of notes that can be exchanged against euro: CHF 20 bills bearing the image of Debussy, equivalent to 3.05 euros, the "Saint-Exupery" 50 francs (7.62 euros) , the "Cezanne" of 100 francs (15.24 euros), "Gustave Eiffel" of 200 francs (30.49 euros) and the "Pierre et Marie Curie" of 500 francs (76.22 euros).

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LE FIGARO. – Your mission in the Ministry of Agriculture will soon end, what measures are you most satisfied?

Bruno Le Maire. – I am proud to have initiated the Battle of regulation in Europe and having secured the CAP budget. I do not regret the hundreds of hours of negotiations that allowed us to achieve: for without the CAP, farmers know that French agriculture is not as strong today. There are also contracts between producers and manufacturers that provide visibility and stability to farm incomes, modernizing sectors of slaughter cattle and finally the reform of the wine that allowed him to resume in 2011 its first place worldwide.

With what results?

We handed agriculture at the heart of the national pact. We have him set the objective: competitiveness, with the aim of sustainable agriculture. No one will return our choice because they produce results. The price of beef back, and demanding meat markets French saving account pay day loan. This is the first time in 14 years! The average income of farmers increased from € 14,500 in 2009 to € 30,200 in 2011. The surplus of the agricultural trade balance has doubled in two years. There are still too many gaps, and I remain vigilant on prices. But it gets better. And more personally, farmers have learned a lot myself. They can always count on me.

What are the issues that remain unresolved?

We must first deal with the chain of fruit and vegetables which is more fragile today. Will largely continue to reduce labor costs, as decided by the president. When I hear Francois Hollande said that there is no problem of labor costs, I see he does not know the reality of the agricultural world.

Finally, it will come to correct misunderstandings and clashes between environmentalists and agricultural world.

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