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The disturbed air tonight

Vacationers should take their troubles patiently Tuesday night to Thursday early morning. These three days may indeed be synonymous disrupted air traffic at major airports of Paris and the provinces, due to a strike call launched by six unions of air traffic. Disturbances should begin on Tuesday evening and end Thursday afternoon, the time that the rotations of aircraft back to normal.

In a statement, the Directorate General of Civil Aviation (DGCA) said he had asked the airline to remove 50% of flights at the airport of Orly and 20% of those expected at Roissy Charles de Gaulle.

For its part, Air France announced that 100% of long-haul flights will be provided, and that 80% of its flights short and medium haul routes from Paris-Charles de Gaulle and 50% from Paris-Orly."We can not exclude some flight cancellations throughout the day. Delays will also be possible, "the company said, calling his passengers to see the information updated in real time on its site, under" schedule "and" timeliness of flights, or by phone at 3654 and SMS sending their flight number to 63654 (eg by typing: AF2062).

CorsairFly for its part ensures that the strike "will have no change on the flight program, also expected some delays due to disruptions related. All rotations of the company will be assured. The company also urges customers to check their flights on its website.

The DGAC said that a strike slogan added "stormy weather that could disrupt traffic".More details are expected early Tuesday afternoon.

"A passage in force"

The CGT, CGC, FOR, UNSA UNSA-IESS and ICNA-call for mobilization to denounce the European program for creating Single Sky FABEC, and the dismantling of the DGAC. They denounce as in January and February, the establishment by the end of 2010, a single air control operator for France, Germany, Switzerland and the Benelux countries. "The creation of such a body fusion will inevitably lead to the dismantling of the DGAC, the structure was considered to be efficient in terms of cost, security and service to users," say the unions. Moreover, "this merger will mean the de facto release of all or part of his personal services and the scope of the State Civil Service.

Joffrin Olivier, secretary of the National Air Traffic Controllers CGT:

In Tokyo, Fillon praised the "rigor" French

From our special correspondent in Tokyo

François Fillon has dropped the word naturally. He who rejects the word rigor in Paris, finally telling the truth in Tokyo. "Of all the state budgets, the only one who is not subject to discipline is that of Higher Education and Research, argues the prime minister, at the turn of a sentence imposed before an audience of five hundred Japanese businessmen and under the approving glance of Christine Lagarde.

True to his outspokenness, the Minister of Economy has not taken greater care to reassure the business community Nippon concerned about turmoil in Europe since the sinking of the Greek economy. "There is not in France, I can assure you of hidden deficits. We have a package of structural deficits, but our accounts are audited very seriously, "warned the owner of Bercy.What has been told to François Fillon not without humor: "Unfortunately, there is no hidden revenue either!"

The European austerity plans discussed at length

He came to Japan to reassure businessmen and Japanese bankers, Francois Fillon has long defended the austerity plans implemented in the euro area. The European currency crisis causes, in fact, Japan concern and uncertainty about the strength of the European Union. The major daily newspaper Nikkei has made his One, two days ago, the 30% decline in investment in the euro countries during the first half of 2010 faxless cash advance.

"I understand that, seen from Asia, our operations can sometimes be difficult to perceive and understand.But Japan's national interest is not to turn away from the euro, "Francois Fillon urged by recalling that Europe is" the great market of the developed world with 500 million consumers. Incidentally, he ditch tackle the Anglo-Saxon does not deliver, he says, a "balanced view of the success of the European Union" and invited his audience to read the German press and French.

Before leaving Tokyo, Francois Fillon met with his counterpart Naoto Kan. In addition to macroeconomic issues, the two men discussed several issues of the Franco-Japanese: nuclear, automotive and aerospace.Weakened by his recent defeat in the senatorial elections, the center-left prime minister of Japan can not implement as it sees the budget and tax reforms that could reduce Japan's debt, too colossal.

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"PREMIUM – The decline of the euro and its consequences

The Euro at lowest level in over four years

The euro has pushed the bar of $ 1.21 Friday shortly before 13:30, then the 1.2 dollar after the closure of European markets. 21heures rating it to 1.1976, the European currency had not been at these levels since late March 2006, more than four years. A floor that makes investors fears Wall Street unscrews, w ith a Dow Jones loose around 3%.

Investors are fleeing risky currency – which the euro is due to debt problems of several countries in Europe – in favor of safer currencies such as dollars and Swiss francs, while U.S. employment figures , Still selecting highly expected to referee emerged sharply higher, but less good, however, that those expected by analysts.

Including the 431,000 jobs created in May in the United States, on the first four months of the year, the U.S. economy created 200,000 jobs.But in the vast majority of them, these new posts are made through the timely hiring of staff for the census. Excluding this one-time occurrence, the economy created only 20,000 jobs.

These figures "are a blow to the enthusiasm on the global economic recovery," said Joshua Raymond, an analyst at City Index.This means that companies "are not hiring more sparingly and do not yet have enough confidence in the future to engage in massive recruitment," says Aurel BCG.

Fillon drives the point

Just for fun, Francois Fillon has ruled that the continuing fall of the single currency was a "good news", able to boost exports from the eurozone.

The term "parity" – meaning a dollar / euro – used during the press conference as prime minister by Friday precipitated a collapse of the euro against the dollar, forcing Matignon rectify the rooms to calm market.

"When politicians they understand that reviews loans for their candor and local audiences have destabilizing effects on financial markets?" Was upset Michael Hewson, an analyst at CMC Markets.

The comments "do not make any gift to the euro, according to the analyst. "They certainly do not help not to stabilize the single currency (and otherwise) to undermine the credibility of the finest political will to support the euro," he said.

Europe degraded by HSBC

Side debt in Europe, the series continues. On Friday, HSBC has downgraded its recommendation on Europe, excluding the United Kingdom, "neutral" to "underweighted" because "there are still too many uncertainties about the health of banks on the future of the euro on sovereign debt, and growth to take risks in this area now.

Hungary worried

After Greece, Spain and Portugal, the contagion of the disease spreading further public finances in the euro area, Hungary.

The government spokesman who said that about a politician reminiscent of the small countries a chance to avoid a crisis similar to that of Greece were not exaggerated.

Following comments from the spokesman for the government, the forint fell to a lower than a year against the euro traded at 285.75 forint per euro, before slightly rising up around 288 forints .

Hungary is on a drip of 20 billion euros made available by the International Monetary Fund (IMF), the European Union (EU) and European Central Bank (ECB) since the fall of 2008.

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European stock markets: banking stocks plunge

Societe Generale, -6.6%, Credit Agricole, -4.9%, BNP Paribas, -4.6% … French banks weigh heavily on the Paris Bourse. The CAC 40 digs on Friday its losses (-1.8% to 3663 points to 11:00).

His European counterparts also suffer, while banking stocks enroll the largest declines, everywhere.

This reflects the renewed concern about the economic health in Europe, barely a week after the European plan negotiated the titanic last weekend. Further evidence of the uncertainty room, the euro broke the 1.25 dollar, which had not happened for 14 months. Gold coast near 1,240 dollars per ounce. Unheard-of.And oil is under $ 74 a barrel.

Banks underperforming in Europe

In Italy, while the FTSE-Eb hollow losses and was down 2.7% at 20,314 points at 10:30, the many bank stocks are at the bottom of the list: in order, loose UniBanca 4.6% to 8.1 euros, Mediobanca, 4.2% to 6.2 euros, Banco Popolare, 4% to 4.25 euros, UniCredit, 3.5% to 1.9 euro, and Intesa Sanpaolo, Italy's leading bank , yields 3.8% to 2.2 euros.

In Spain, same old story. The Ibex 35 largest market capitalizations falters 3.4% to 9639 points, and the banking sector heavyweights weigh box. Banco Santander, the second largest bank in Europe, falling 5% to 8.7 euros, and Banco Popular 4.75% to 4.7 euros.BBVA fold from 3% to 9.2 euros and 3.6% of Bankinter at 4.85 euros.

The Dax in Frankfurt, he, more resilient – the index of 30 companies the biggest German stock market down 0.45% at 6223 points. But again, it is Deutsche Bank, which is at the bottom, falling 2.16% to 49.8 euros and Commerzbank sells 2.1% to 106.8 euros.

In Belgium, KBC retrograde 3.4% to 31.5 euros and Dexia 3.25% to 3.7 euros in a market down 1.75% at 2490 points for the Bel 20. And in Switzerland, UBS depreciates 3.35% to 16.1 Swiss francs, financial group CS Group lost 3.1% to 47 Swiss francs.

The bank still frontline

Fears of a state unable to grow its fiscal power the risk of lowering its rating by a rating agency. But what are the financial institutions in a country with the largest of government securities in the portfolio.

Generally, capital financial institutions required to hold an asset also depends on the "rating" (the note) of the issuer of this title. If it deteriorates, the capital required to hold a state title will be more important.

As banks are exposed to the Spanish Treasury securities, profitability and solvency is lowered … hence the fall in stock.

Agreement between the EU, the IMF and Greece on an aid plan

Considered "strong" and "credible" by European Commission President Jose Manuel Barroso, the program of multi-year budget cuts proposed by Greece to return to high deficits and debt decent justifies the activation of the aid plan finances by the European Union (EU) and the International Monetary Fund (IMF).

Greek Prime Minister George Papandreou said on Sunday a new "sacrifices" that meet the requirements of the IMF and the EU, adding that the new austerity measures against officials and retirees of public sector salaries and save private sector.

A deficit below 3% in 2014

"We are all called to make a choice. The choice is between the collapse or a program of structural change.The government has decided to save the country ", said Sunday the Minister of Finance, George Papaconstantinou.

Save the country, European language, is to establish an austerity plan that allows the return of a budget deficit below 3% of GDP, the ceiling required by the Maastricht Treaty to cement his place in the EU.

Thus the Minister of Finance has proposed to launch an "economic agenda that includes efforts to reduce the budget deficit of 11 percentage points of GDP or 30 billion euros – more than 4.8 billion already announced for 2010 – from today and the next three years "for a return under the famous European threshold by 2014.According to estimates by the Greek government, the deficit would be 8.1% this year, 7.6% in 2011, 6.5% in 2012, 4.9% in 2013 and finally 2.6% in 2014.

From his side, public debt is expected at 133.3% of GDP this year and should continue to rise, up 149.1% in 2013, before beginning to recede in 2014, 144.3%.

Drastic measures

Among the main measures announced included a wage freeze and the removal of 13th and 14th month salary in the public service. There will, however, no change in private sector wages.

The minimum age for retirement is 60 years. Public investment will be reduced and a fund to help the banking system will be implemented.

Starting in 2010, is also provided a further increase of one to two points of the VAT (value added tax, which is already 21%, France is at 19.6%) fast cash advance loan.

A financial assistance plan to ensure the stability of the euro area

Ending speculation and ensure the stability of the euro area. These are the priorities for a Europe troubled for several weeks by the threat of bankruptcy of one of its members.

While rates have long known Greek fevers to worry about the financial world right, and that the euro has depreciated at a rate fears about the ability of Greece to declare bankruptcy, the very viability of the model European Union has been threatened. Political tensions between the heads of state of member countries have revived the debate on Europe in a failure of coordination.

The amount of funding to be given jointly by the EU and the IMF has not yet been revealed, but it will be "unprecedented in the world. The French Minister of Economy Christine Lagarde on Saturday evoked total amount of support within the range suggested by the IMF and the European Commission between "100 and 120 billion euros". She said it was "a plan over three years, the current year, 2011 and 2012." According to analysts at Natixis, the country would need 130 billion euros over three years.

In any case, Greece might blow. The country will repay its term of almost nine billion euros to be repaid on May 19 next.

Never again

Nicolas Sarkozy and Angela Merkel intend to take "initiatives in the coming days" for Europe to strengthen monitoring mechanisms within the euro area, expedite its work on the fight against speculation and improving the transparency of products derivatives and make further proposals on the regulation of rating agencies.

For these rating agencies, Banier Michel European Commissioner for Internal Market and Services, expressed support on Friday to create such an entity in Europe that would complement three existing credit rating agencies, all U.S., Standard & Poor's, Moody's and Fitch.

"SPECIAL CASE – Greece, a challenge for Europe

The U.S. court approves Havana Club rum distilled … Puerto Rico

Havana Club Rum, owned by a joint venture owned by the Cuban government and Pernod-Ricard continues to turn heads. For over three years, Bacardi, owned by Cuban exiles, sells in the United States (where the real Havana Club is blocked because of U.S. embargo on Cuba) rum he also called Havana Club, but distilled Puerto Rico. Bacardi claims to have acquired the Havana Club brand in the family of its founder, whose property was nationalized after the Cuban revolution.

To prohibit the marketing copy of this Puerto Rican, Pernod-Ricard (who has also taken action regarding the ownership of the Havana Club trademark in the United States) argued in federal court for the District of Delaware fans rum could be misled about the origin of the product no teletrack payday loans.The court rejected the request of the French group, which has decided to appeal.

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The markets welcomed the results of NRJ

NRJ Group may blow. In a difficult economic environment in 2009, the broadcasting group announced on Thursday a return to the green with a net profit of 6.8 million euros against a loss of 4.6 million euros in 2008. Revenues excluding exchange operations declining slightly by 0.4% to 330 million euros. The news, however, may not be appreciated by the markets. These projected a net profit of 15 million euros.

For its part, NRJ Group is satisfied with these results. The group managed to improve its operating performance with a net operating profit up sharply from 38% to 25.4 million.Operating income for the handset business, which had sealed the results of their 2008 deficit of 9.5 million, were not disclosed.

Cleopatra and the TNT derive results

NRJ Group finds particularly strong improvement in the poles and television shows. The first saw its revenues rise by 75.6% to 43.9 million euros through the two channels of the TNT NRJ 12 (third string DTT) and NRJ Paris. The group managed to reduce its operating loss in this sector to 15.8 million against a 22.7 million.

The cluster performance makes the best performance with an increase of 712% of its revenues in 2009 to 26.8 million euros against 3.3 million the year before us fast cash !!!???!!!?? ?!!!."This strong growth mainly due to the success of the musical Cleopatra whose contribution to consolidated sales amounted to 25.0 million euros in 2009 compared to 0.5 million euros in 2008" , the company said.

In contrast, the pole Media music has suffered a fall of 15.7% of its revenues to 197.9 million euros.International operations also saw their incomes fall by 9%.

The title leads the DTH

For 2010, the group was cautious in a "fragile economic environment" and a "visibility remains low.

But positive signals are detected including "an improving trend on advertising revenues in March, thanks to sales growth in Radio France, which could therefore register growth in the first quarter of 2010 compared 1st Quarter 2009 ".

"In television, the trend remains strongly positive since the beginning of the year," the statement concluded.

At the Paris Stock Exchange, Friday, NRJ shares rose 12.01% to 7.18 euros, the largest increase in DTH in a market that yields 0.10%.

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Greece: why an IMF aid appeals

Berlin turncoat. The German government has officially informed on Friday that he was open to assistance from the International Monetary Fund (IMF) for Greece, after long vigorously rejected this option. However, observers believed the case heard earlier this week. The Europeans had a specific plan, they said. Today, the hypothesis of an intervention of the International Monetary Fund (IMF) in favor of Greece resurfaced.

"The situation is confused, everything changes constantly," says an observer of the market in Frankfurt. "We came out of the Eurogroup, on Monday, with the idea of a specific action plan for Greece in case of need, but since patterns are changing." The markets reacted Friday to the renewed uncertainty .The yield on the 10-year Greek climbed nine basis points in early morning, reaching 6.44%, the highest since February 26, reports Bloomberg.

If Berlin exchange of views, the European Central Bank and Paris rejected an IMF intervention. "Bringing an external actor in the system is to acknowledge that lack a brick to the edifice of the euro area, as has long denounced the Anglo-Saxons," says Gilles Moec, economist at Deutsche Bank. For Jean-Claude Trichet, President of the European Central Bank, admitted this weakness is beyond question. This institution would be missing other than the European Monetary Fund recently proposed by Berlin.

The eye of Washington

Moreover, "the France and the European Central Bank fear of losing some control of European monetary policy by allowing the intervention of an international player," Peter Westerheide analysis, an economist at ZEW (Center for European Economic Research) payday loans! !???!!!???!!!. The largest contributor to the IMF is the United States, leave the international organization for Greece is to give Washington the right to inspect the functioning of the euro area.

This argument is however a double edged sword. "Leave the IMF to pay back the United States to repair the crisis they themselves have caused," said Peter Westerheide. "Overall, the IMF is fed by many countries, the coup European countries pay relatively less in each case of assistance to Greece.This last point was what to seduce Angela Merkel, embarrassed by public opinion strongly opposed to any aid to the Greeks.

The IMF also has expertise in this kind of crisis. And for good reason: to help the country to the brink of bankruptcy, it is his job. The argument is advanced on the European scene, the Italian Finance Minister Giulio Tremonti: "Do not see the IMF as an external organization that meddles with what does not concern him, but rather as a bank offering … its capital and experience. "

These arguments, which seem to convince Berlin, partly defuse the blackmail of the Greek Prime Minister George Papandreou, if European aid too slow, it threatens to turn to the IMF. "Anyway, Greece can hardly resort to the IMF without the backing of other European capitals," said Peter Westerheide."His partners have enough pressure, especially through the many aid it receives from Brussels."

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"SPECIAL – Greece, a challenge for Europe

Heuliez: repurchase agreement with a Turk

End of suspense at Heuliez? The Turkish investor Alphan Manas, including Industry Minister Christian Estrosi announced at the end of February, the nomination was finally signed Tuesday a memorandum of agreement for the purchase of automotive equipment. According to the Ministry of Industry, the agreement which provides for a capital increase of 30 million euros – which should also involve the Poitou-Charentes region and the state – should be finalized next March 31, for the greatest relief of employees Heuliez. Three million have already been provisioned by Brightwell, the fund's investment Alphan Manas.

The recovery of the industrial problem is a political problem, just days before the second round of regional elections.Given the impotence of the original buyer Bernard Krief Consulting to bring the 15 million that was promised to the court, S?gol?ne Royal, president of the Poitou-Charente, had itself announced in February the arrival of a new candidate , Macif payday loan . But it was another disappointment for the 660 employees Heuliez, the mutual has announced some time after its withdrawal. The Minister of Industry, also on deck for the placement into receivership of the supplier, assured even at the beginning of March to be sure "99.99%" of the future agreement with the investor Turkish. "It's a businessman recognized and valued," he then pleaded. The decision to do it Alphan Manas is not made less wait.

Christian Estrosi, who receive 16 hours Tuesday at the union of automotive, therefore welcomed Tuesday the decision "great news for Heuliez and its employees", while calling for vigilance. "By this date, it is important nonetheless, given the historical record, to remain cautious until the transaction is not finalized legally.

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United States: sluggish growth confirmed

Economic conditions continued to improve in the United States in January-February, "although harsh snowstorms in early February have dampened activity in several regions," according to the Beige Book released Wednesday by the U.S. central bank (Fed).

The document states that the activity has increased in nine of the twelve regions (by cutting the Fed), but that "in most cases, these improvements were small.

The information provided by the Beige Book are very important because they serve as a reference to the meeting of the Monetary Policy Committee of the Fed scheduled for March 16, which will decide on changes in interest rates.

Regarding the labor market, for which the Fed chairman, Ben Bernanke, gave recently bleak outlook before Congress, the document notes that "the pace of layoffs has slowed in most regions, but that hiring plans of companies remain "soft in general."

As for expenditure on household consumption, traditional engine of growth of the country which is struggling to regain its role, they "grew slightly in many areas, but have been hampered in some by the snowfalls of early check cash advance