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FNSEA (National Federation of Farmers' Unions) is back in service Tuesday Space in Rennes, the second largest European exhibition of livestock. Beyond the hot topics of the moment, like the crisis in the hog sector, the Central Agricultural eyes on May 2012. It intends to be present in the debate of the presidential election. It prepares a summary document together its proposals for meeting the challenges of French agriculture during the next five years.

This platform will be closed in mid-November. "The French agriculture is a key sector and must be present in the Presidential debate, said Xavier Beulin, a number of FNSEA. We will ask the candidates to express themselves and engage in relation to our proposals. "

Important themes, four stand out.On the top of the stack, that of improving the competitiveness of French agriculture. It has been deteriorating over the past five years. So much so that France, land of all agricultural production has shifted from first to third place behind Germany and the Netherlands in the field of agri-food trade. Fills a gourmet meal while the French end of 2010 was listed as World Heritage Heritage of Unesco, the Hexagon now imports many of its fruits and vegetables, cheaper to produce outside our borders.

To make France more competitive firm, offers FNSEA implementation of VAT "social antidélocalisation." Its goal: to reduce by at least 30% of the hourly cost of agricultural workers to align with that of its European competitors.A key position when you know that 60% of the cost in this sector, employing 200,000 people, from the cost of labor. Such a measure would cost $ 300 to 350 million euros to the state budget.

To finance it, the future tax soft drinks would not be sufficient. "This requires an increase in VAT terms to be defined. In addition this measure would also apply to imported products as opposed to an increase in the CSG, which again would penalize French farms, "says Xavier Beulin.

Second major issue, increased efforts in research and development in agriculture on G20.With, for example, the introduction of new varieties of animal and plant more to meet consumer expectations.

For a new irrigation policy

The third point concerns the inclusion of the entrepreneurial dimension of the French farm, including the creation of new legal status and accounting standards with the possibility of bankruptcy without affecting personal property.

Finally the fourth theme relates to the environment. FNSEA advocates a new irrigation policy to create water reservoirs to store winter and summer re-use rather than let her go to the sea This implies a reduction of administrative .

FNSEA does not give instructions to vote.The responses of presidential candidates will help farmers, who are no longer systematically acquired the right to guide their choice.

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The Italian government, which has set a target to stop the speculative pressures of markets on Friday adopted an emergency order providing for a new austerity plan amounted to 45.5 billion euros over two years. These austerity measures designed to recover 20 billion euros in 2012 and 25.5 billion in 2013. Their adoption will enable Italy to cancel its public deficit to 3.9% today – by the end of 2013.

For the first time, the prime minister Silvio Berlusconi has agreed to weigh the tax burden with a "solidarity tax" on higher incomes. According to leaks distilled by the social partners, this contribution could rise to 5% for every € 10,000 for employees earning over 90,000 euros, and 10% in excess of 150,000 euros. Self-employed workers earning more than EUR 55,000 will be taxed at 41%.However estates and housing will remain free of taxation. A single tax of 20% will be charged on income from capital, currently 12.5% ​​against and 25% of bank deposits.

Aggressive fight against tax evasion

The introduction of fiscal federalism will be early in 2012, the government hopes to make them more aggressive fight against tax evasion. It will become mandatory to report transactions of more than 2500 euros and harsh penalties are provided for activities not issuing bills or receipts, up to closing. The project plans to make savings, the merger of provinces (38 disappear) and municipalities (in 1500 should be merged). On productivity should be increased with the removal of bridges and the automatic transfer of national holidays on Monday.

The cost of the policy will also be cut with the elimination of 50,000 positions elected at the central government and local communities. Heavy sacrifices will be required to Italians in particular as regards social welfare (social services and family) who will suffer next year the bulk of the effort (about 20 billion euros) all levels of assistance and social transfers to local governments will be affected. However the Northern League had opposed the cuts, pensions will be spared. Women in the private sector will be encouraged to continue working until age 65, or 7 years older than today.

Silvio Berlusconi said his "heart bleeds" to the idea of ​​going against his promise to "never get their hands into the pockets of Italians."But he justified his decision by "the dramatic situation", stressing that the new measures were "inevitable." He added that "the vote in the council of ministers was unanimous." Silvio Berlusconi said that the new measures "are in line of what had been hoped the European Central Bank."

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Eighteen months after the initial concerns about the European debts, the situation on the old continent is still fragile. However, the euro remains surprisingly strong. The euro hovered around $ 1.45 since April, and rose more than 8% since the beginning of the year, and 15.5% in one year. "The first explanation that justifies the euro strengthens and weakens the dollar is in the interest rates: in Europe, they are likely to be faced by the ECB on Thursday, reaching 1.50% while those U.S. Federal Reserve and will still remain long remain between 0 and 0.25%, "says Bruno Rodier, private banker and portfolio manager at Pictet & Cie.This differential rate encourages investors to take advantage of the "carry trade", this technique to generate returns by borrowing in dollars at a rate unusually low, and place it in euros, which pays better.

"The situation should not change in the coming months because when the European Central Bank has the sole purpose of containing inflation by raising interest rates, the Fed also has the task of supporting growth and employment and maintain long-term rates low and a weak currency to do so, "said Harry Sebag, an analyst at Saxo Bank.He said the Fed will not change its monetary policy anytime soon because it looks especially the real estate market across the Atlantic, the one who caused the economic crisis and financial crisis in the summer of 2007, which is still not out business.

The dollar is kept artificially low

But even more than the strengthening of the euro, especially on the weak dollar that the experts agree. And has been a little more than a year: the Fed announcement as it injects new astronomical quantities (600 billion) dollars in the global economy. Instantly, the dollar lost its value against other currencies, and the effect lasted until now."There is also the effect 'end of world supremacy' of the dollar plays, including the report of the World Bank has recently anticipated that by 2025, that is to say tomorrow, the market currencies will be dominated also by the Chinese yuan, not only by the dollar and the euro, "notes Vincent Juvyns, strategist at ING IM cash advance no fax.

The role of the dollar as the global benchmark fading as global governance wants to reform the international monetary system. In this perspective, little by little, investors include the future landscape of the exchange market and exchange their dollars into yuan and euro. "At the same time, we must take into account the cultural dimension of geographical areas: Europe, under the influence of Germany was a culture of rent, we want to keep a strong currency.This contrasts with the current pattern of currency war, which is to artificially push down its currency to promote its own foreign trade, "said Bruno Rodier.

Europe is going less badly than the U.S.

Finally, if Europe goes wrong, it will hurt less than the United States. Bad news on the macroeconomic front here and on the other side of the Atlantic, lower the respective currencies, but the U.S. figures are still worse than the European data, the dollar fell more than the euro. So the euro / dollar rate goes up anyway. "If you took away the effect debt, the euro was trading at least $ 1.50," Harry Sebag plans.Recently, the growth forecasts for the European Union were found, while those for the United States have been degraded.

Thus, the twists in the case of Greece, or fears of contagion from the crisis of sovereign debt of countries in the euro area peripheral to Italy or France, they have had little effect on the euro itself. "The currency market is highly sensitive to very short term. But in the coming weeks, the scenario of an outbreak of the euro area remains the least plausible of all, "says Vincent Juvyns, underlining that" challenges remain whole in the longer term. " The markets seem optimistic about the ability of European governance to agree to find solutions to problems of public finances of member countries."And Nicolas Sarkozy, Angela Merkel, and Jean-Claude Trichet has always reassuring words to soothe the markets when tensions rise," added the expert.

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The French presidency of the G20 has a real workhorse: the fight against agricultural price volatility and put agriculture at the heart of the investments to ensure food security. In fact, this summit today and tomorrow brings together the ministers of agriculture of 20 countries representing 85% of world production, is a first in the annals of the G20 to put the assets of France. On the eve of the opening, the Minister of Agriculture, Bruno Le Maire, recognizes this: if an action plan has five points on the table, "it will be difficult to reach an agreement, both differences are profound. " No question as to aim for a minimum agreement. "We prefer to fail rather than give up a point.It is a coherent whole that can handle all causes, "insists on the ministry.

• Transparency in Physical

The most concrete commitment, it would create a database, called Friends Information System (agricultural markets) and hosted at FAO. To provide information that is "clear and transparent" about global levels of production, consumption and stocks, initially focused on corn, soybeans, rice and wheat. This involves the cooperation of private groups such as Cargill and Dreyfus. This should lead to a consensus, despite the reluctance of China and India on issues of sovereignty. They are willing to engage on the condition of technical assistance such as satellite photos.

• Increased productivity

Again, this measure of common sense could rally all members of the G20.This is to encourage investment in global agriculture by focusing on innovation to improve yields of wheat and rice. The challenge: increase of 70% of world agricultural production by 2050 to feed 50% more mouths payday loan companies. The draft declaration emphasizes the need to develop public-private partnerships, a point without critics in the major emerging countries.

• Coordination of global agricultural production

In order not to replicate the Russian episode last summer, the French Presidency pushing for the establishment of a Rapid Response Forum (RRF), which should facilitate the coordination of agricultural trade policies. A measure criticized by the United States and Australia, which refer this matter to the World Trade Organization. The subject of biofuels, blamed as a factor of volatility, pass second.The project calls for a "strengthening of the analysis between the production of biofuels and the food."

• Reduce the effects of volatility on the most vulnerable countries

The World Bank should encourage the establishment of contractual instruments such as loans cyclical, ensuring access to credit and risk coverage to the poorest countries. It also reserves to provide for humanitarian relief. The term "stock" was carefully excluded to avoid offending the most reluctant, USA, Argentina and Brazil, particularly hostile to administered prices.

• Regulation of financial markets

Railing against excessive speculation, Nicolas Sarkozy promised more regulation of financial markets.On this point, the final statement is likely to be modest, returning responsibility to the finance ministers, themselves remain highly dependent on market authorities. The text could, however, contain some recommendations, including imposing position limits, as is already done in Chicago.

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While Christine Lagarde is the favorite to head the International Monetary Fund, his two rivals try to put a spoke in the wheels. The Governor of the Central Bank Israeli Stanley Fischer, freshly candidate initially put forward his training as an economist, which he said is "essential" to lead the organization in Washington during a crisis. The Minister of Economy and Finance has followed a career as a lawyer. "You need an intellectual framework," he said in an interview Monday in The Wall Street Journal. He added that there was "great in the past director of the IMF who were not politicians."

For his part, another rival of the Minister of Economy and Finance, the Governor of the Bank of Mexico, Agustin Cartsen, regrets the perpetuation of the domination of Europe on the position of boss of the IMF since 1946."There could be a conflict of interest between the IMF and the European Union if the French Minister of Economy Christine Lagarde was taking the head of the institution," he said business cards. We would have a situation where borrowers dominate a creditor institution. I think it's a problem that must be addressed. "

Carstens sees Christine Lagarde elected

This did not stop to see the Minister of Economy and Finance elected. "The chances for Christine Lagarde of getting elected are very high. I am sure she will make a good CEO, he told a conference at a research center on international economics from Washington, the Peterson Institute. This does not prevent him from criticizing a victory for Christine Lagarde he considers almost gained.

As for Christine Lagarde, she tries to gather as many supporters, including the United States that have not yet made their choice. They are however allowed to compliment Agustin Carstens, deeming it "highly competent". While the name of the future director of the IMF must be known by June 30, the fight promises to be full.

The CAC 40 moved into negative territory on Thursday. After starting the day on a drop of 0.86% to 3930.59 points, the benchmark index in Paris was widened its losses in the morning. About 12 hours, it was down 0.96% at 3926, 85 points under the technical threshold of 4000 points which had escaped to investors Wednesday.

The movement is otherwise identical to other European markets. The Dax index featuring the Frankfurt Stock Exchange, which opened down 0.85% at 7155.86 points, losing 0.96% at the same time points to 7148.25. The FTSE-100 index of London Stock Exchange, which started on a decline of 1.06% to 5965.02 points, its share reduced its losses to -0.76% at 5883.67 points.

The mood has changed beyond recognition from the beginning of the week.Greece seemed to approach Wednesday in an agreement with Europe and the IMF for further financial assistance, which could avoid insolvency. But the announcement a few hours later by a new Moody's downgrade of the Greek debt was added to the fears already heavy burden on Athens. Judging probable restructuring of the country's sovereign debt, Moody's downgraded three notches the rating of the country, pushing further into the speculative grade.

For its part, Spain has managed to raise 3.953 billion euros of bonds 3 and 4 years on the market but, despite strong demand, the rates reflected on the rise.

In this context, risk-taking are not numerous. The activity is minimal anyway since France, Ascension Thursday is a holiday.Upcoming Events, however, some indicators should capture the attention of investors present electronic check payday advance. They are mainly American with productivity quarterly, weekly jobless claims and industrial controls.

Note that the currency market, the euro remains strong against the greenback at 1.4475 dollar. Oil prices, they were down in electronic trading in Asia. In morning trading, a barrel of light sweet crude for July delivery yielded 21 cents to 100.08 dollars. That of Brent North Sea crude for delivery same lost 8 cents to 114.45 dollars.

Values ​​to follow

As for values, no news.Stay tuned, however:

The banking sector

High risk debt Greek, French banks react poorly to the degradation of the country note by Moody's: Societe Generale (-0.12% to 40.47 euros), Credit Agricole (-0.47% to 10.48 euros), BNP Paribas (-0.93% to 53.30 euros) decline. Only Natixis (+0.22% to 3.64 euro) is in green.

AXA (-1.83% to 14.78 euros) also declined.The day before the title had been the star of the CAC 40 gained 1.45%, boosted yesterday by the announcement of its new strategic plan and the sale of its Canadian subsidiary.

TF1: -1.28% to 12.38 euros

The group said Wednesday it had received offers "constructive" of several Internet service providers to distribute its pay-TV from 2012.

Trading in Gecimed remain suspended until the opening of the buyout offer followed by a withdrawal bond, its parent company Gecina (-0.59% to 99.41 euros). This opening will be later than June 8, after payment of dividend.

The economic austerity, mass unemployment and the impending local elections have, since last Sunday, the emergence of a broad popular movement among the youth of Spain this week. Los indignados ", ie Indignant, as they call themselves, occupied since last Sunday instead Madrid Puerta del Sol.

Now "illegal", the electoral truce in effect banned the demonstrations, but determined to hear their ras-le-bol of the crisis and unemployment, hundreds of youths were mobilized Saturday in the camp alternative to the Puerta del Sol in Madrid .Shouting "we are now illegal," an immense crowd welcomed Friday at midnight on the start of the truce, after, at the stroke of the clock, symbolically launched a "silent scream" of scotch tape on the mouth, arms raised to heaven.

"Apolitical" and "citizen"

Saturday morning, a thousand protesters still occupying the "village" of tents and plastic sheeting instead of blue madrilène.L agency Efe, based on counting a specialist company, puts the figure of 19,000 protesters Friday night to the Puerta del Sol and surrounding streets, crowded. Other media put the number at 25,000 to 60,000 in Madrid and throughout Spain. The movement has indeed spread throughout Spain under the slogan "Toma la plaza" (Takes place). It is present in 57 cities.The youth movement, building on its growing popularity, plays on the ambiguity of the law and the embarrassment of the government, repeating that he is "apolitical," "citizen" and that the days of Saturday and Sunday will be devoted to the pursuit of "reflection" collective. "We act in full respect of the truce election meetings will be held but no action will be decided," Lopez said Saturday, a spokesman.

"We do not want to overthrow the politicians, just to restore the level of concern of the street, told El Pais Gandara, a spokesman of the movement. "We are not anarchists, nor opponents of the system. We are just normal people "who want a form of participatory democracy.

This spontaneous mobilization, also called the May 15 Movement, was organized as the Arab revolt, via online social networks Twitter and Facebook and on the principle of "right to be indignant." Wednesday, El Pais had counted 10,000 participants in Madrid. The watchwords: the stranglehold of the major parties on Spanish politics, social injustice and the "corrupt politicians". In the background, an unemployment rate of 21.19%, the highest in the euro area, which affects almost half the age of 25.

Police Discrete

"I have great respect for those who demonstrate, they do so peacefully, and I understand that this is due to the economic crisis, in their desire to find a job," said on Friday the first Outgoing Minister Zapatero socialist on the radio Cadena Ser.

The police presence, despite a ban on protests, remained quiet throughout the evening, limited to a few police cars parked around the square. The government, embarrassed by this spontaneous movement occurred a week of regional and local elections on Sunday ahead disastrous for the Socialists, had said on Friday to show "understanding."The Interior Minister Alfredo Perez Rubalcaba, had suggested that police action could be avoided provided that no overflow takes place.

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The CAC 40 continues on the path of this increase jeudi.Les early trade on start up from 0.68% to 4095.42 points. As in Asia, Paris markets in turn react positively to the long-awaited announcement of the Fed on U.S. rates. The latter decided to pousuivre monetary policy accommodative for a prolonged period. Following these findings, Wall Street has ended sharply higher on Wednesday and the Nasdaq hit its highest level in ten years.

On other European markets, the upward trend is also valid. The London Stock Exchange has opened up 0.32% to 6087.6 points. For its part, the DAX index of the Frankfurt Stock Exchange gained 0.62% to 7450.57 points.

But investors remain wary.Several key statistics are expected across the Atlantic on Thursday, beginning with the first estimate of first quarter GDP and weekly jobless claims (1430). The promises of sales in March are also expected (16 hours). The ball quarterly publications will also be given to: Procter & Gamble, Microsoft, Expedia and Colgate Palmolive are scheduled.

Side currency, the euro climbed sharply against the dollar since the Fed announcement. The single currency traded 1.4862 dollar. On oil markets, a barrel of light sweet crude for June delivery gained 61 cents to 113.37 dollars while that of Brent North Sea also June delivery increased 62 cents to 125.75 dollars.

Rafale PUBLICATION IN

As for French companies, investors will also have enough to do:

Saffron: 3.80% to 24.99 euros (largest increase in the SBF 120)

The group announced on Thursday a rise in its quarterly revenue exceeding its target for the year, driven by activities of aerial and optronics, and reaffirmed its forecast for 2011 and its confidence for the following years.

Eramet: 0.43% to 270.45 euros

The mining group has achieved a turnover of 973 million euros in the first quarter, up 23%, thanks to increases of 35% nickel and 30% in alloys.Its operating income should be at least semi-equal to the corresponding period of 2010 excluding special items, after a surge in sales in the first quarter.

Gemalto: -0.37% to 34.93 euros

World number one smart card noted in the first quarter up 17% of its sales to 444 million euros a year, driven by its main activities. It confirms its outlook for fiscal 2011.

Technip: -2.65% to 74.81 euros

The specialist oil and gas equipment announced better than expected margins in the first quarter and confirmed its overall outlook for 2011. He always aims for this year a turnover of approximately 6,500 to 6.7 billion euros against 6.082 billion in 2010.

Sanofi-Aventis: +0.15% to 53.34 euros

The group released on Thursday quarterly earnings affected by competition from generics, but slightly better than expected and announced that its annual results would be reviewed during the semester. In late March, the turnover came out down 1.5% to 7.78 billion euros, generics that cost him 569 million euros in turnover over the first quarter of 2010.

Suez Environnement: 3.15% to 15.39 euros (largest increase in the ACC)

The group has published performance increase in the first quarter thanks to strong growth internationally, and has confirmed all its targets for the period 2011-2013.The turnover reached 3.514 billion euros in the first quarter, registering an increase of 14 payday loans in 1 hour.3% (+13.5% at constant exchange rates), while EBITDA was $ 592 million, an increase of 28.6% (+25.6% at constant exchange rates).

Imerys: -0.32% to 52.50 euros

The group announced on Thursday a net improvement in its quarterly results, benefiting in particular the improvement of the construction market in France, said he expected an improvement in its performance throughout the year. Imerys has improved its operating margin by 1.9 points to 13.2% and increased its turnover by 13.7% at constant exchange rates to 882.7 million euros in the first quarter.

PPR: 1.94% to 120.75 euros

The group saw sales jump 26% in luxury in the first quarter, boosted by a dynamic Asian still as powerful and a brilliant performance in the United States.

Gameloft: 4.80% to 4.80 euros

The group announced a 20% growth of its turnover in the first quarter of 2011 to 39,500,000 euros. The company anticipates a year again growing at its turnover and profitability.

NextRadioTV: 0.32% to 15.70 euros

The media group has announced a turnover up 14% to 35 million euros, 15.7 million (+15%) for its flagship radio and 10.2 million for its TV division (+25%) . He announces "positive outlook for the first half of 2011."

Technicolor: -2.10% to 5.12 euros

The group announced on Thursday a rise of 15.4% of its turnover to 812 million euros in first quarter (+16.2% at constant exchange rates) and confirmed its targets 2011.

Always on the side of publications, after market, Saint-Gobain, Sechilienne-Sidec, Crit and Vinci will unveil their turnover in the first quarter.Compagnie des Alpes will unveil its second quarter revenues. The results of the first quarter of Sequana, Saft, and Bongrain are also expected.

Eurotunnel, Danone and Plastic Omnium will hold their general meetings respectively 10:15, 14:30 and 17 hours.

Ipsos confirms its objectives

Ingenico: -0.23% to 32.72 euros

The group raised its growth target for 2011. It is now targeting sales at constant scope and exchange rates, greater than or equal to 985 million euros, while it had announced a target located between 965 and 985 million euros.

Ipsos: 0.33% to 35.48 euros

The group confirmed its targets for 2011 after recording an increase of 6.2% of its turnover in the first quarter despite the continuing fall in the market for public education in Britain.

Klépierre: -0.39% to 27.04 euros

The group announced a slight increase in rents in the first quarter, thanks to its shopping centers, despite a slowdown in consumption in Europe.

Unibail-Rodamco: 0.97% to 156.56 euros

The group has appointed Christophe Cuvillier, former CEO of FNAC and Conforama, the Executive Group property as "General Manager Operations."He replaces Michel Dessolain, board member since 2007, appointed Director General of the strategy.

New field for Total

Total: 0.85% to 42.95 euros

The oil discovered in south-eastern Bolivia a major gas field that could initially produce up to 6.5 million m3 per day.

Bioalliance Pharma: 1.49% to 6.14 euros

The group has announced an expansion in Germany and Spain for its Phase II clinical trial of clonidine Lauriad in patients with cancer of the head and neck.

Unions are rather relieved. After fears yesterday that their call for the strike falls flat, following the announcement last minute by the management to reopen salary negotiations, they welcomed a widely followed mobilization this Saturday. Employees hypermarket distribution group were in fact called by four unions to strike on Saturday to protest against including salary increases for 2011, considered insufficient. The appeal was launched in late March by the FGTA-FP, the majority union at Carrefour (with more than 45% representation), and supported by the CGT, CFDT and CGC.

In total, employees of French retail group came to mass protest around the shops in this traditional day of great crowds in hypermarkets.According to union estimates, the movement is widely followed (50 to 85% of striking workers) in 130 of 203 hypermarkets in the group. Over thirty sites are completely blocked, preventing access of employees supermarkets. Even when they are not completely blocked, the strike rate range from 30% to 85% as estimated by Dejan Terglav, general secretary of the FO-FGTA reported by AFP. "The regions are the most mobilized the North, Britain and the Centre," said trade unionist. When contacted, the management of Carrefour has not confirmed those numbers, always carrying an inventory of mobilization, and ensuring that all supermarkets were open.

Union representatives yesterday morning anticipating a high rate of mobilization of employees. A rare occurrence in a group unaccustomed to large-scale social movements."Especially since the announcement of the reopening of Carrefour wage negotiations Wednesday could deter some people from coming forward. But reopening negotiations, it does not mean to succeed, "insists Dejan Terglav.

"It's a movement that looks pretty memorable," confirmed Frank Gaulin, Steward central CGT. Jean-Claude Mailly, secretary general of the Workers' Force (FOR), came to support the movement at the site of Le Mans, on strike for 80%. "People want a redistribution within companies.When they are unwilling to do that, there is a strike, "said union leader, also claims that" a device to make compulsory the transport allowance in all enterprises. "

Insufficient wage increase

While management offers its employees a 1% increase in wages to March 1 and another 1% increase on 1 October, union officials estimate that these proposals do not cover inflation announced by 2% payday loan online. "I do not really represents only 1% over the year," says a leaflet distributed by the FGTA-FO, which requests that the increases are decided once a year. The promise of recovery to 10% (against 7% previously) discounts on purchases of stores, and the announcement of the reopening of negotiations next Wednesday, will not suffice to bring back the union leaders on their decision.

Indeed, beyond wages, discomfort is increasingly strong-side conditions of use and new methods of work since arriving at the head of the group of Swedish Lars Olofsson, in January 2009. In total, FGTA-FO amounted to 10,000 the number of jobs cut since 5 years, and denounced a "new business model based on night work generalized ultra simplified workflow and increased employee stress .

The union also stipulates that future negotiations with management will not only wages and, even in case of high wage increase, it will not bend on the claims concerning the improvement of working conditions.

Opposition to the plans of division

While President Nicolas Sarkozy on Thursday expressed its willingness to link salaries to dividends, the unions could ask for more support for their speeches. For the third and final major demand, workers are opposed to the division by trading in the subsidiary Dia hard discount and the 25% of the land Carrefour Property. According to unions, these purely financial transactions would bring six billion euros to the two main shareholders, Bernard Arnault and Colony Capital (14% stake and 20% of voting rights between them).

In the words of Dejan Terglav in Les Echos reported on Friday, the organization also wants the Mutual Fund Business (CIPF) 'vote against the division (at the next general meeting of June 21 ed.)CIPF owns approximately 1.33% of the shares but the double voting rights "said the union leader. Bringing to nearly 4% the number of shareholders opposed the project, with the fund Knight Vinke (more than 1% of capital). But for now insufficient to meet a third of votes needed to derail the project.

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The decision of the Bank of Japan (BoJ) was taken unanimously. All members of the institution wished to act, having raised their estimate of the quake's impact on the Japanese economy. They decided to inject into the Japanese economy 1000 billion yen, or 8.22 billion euros. Several similar actions have been taken since the natural disaster and nuclear, which killed at least 28,000 dead and missing, totaling tens of billions of euros.

The measure taken Thursday morning, along with maintaining its zero interest rate policy, designed to offset declining business prospects of Japanese companies and the slowdown in consumption.

However, the BoJ said it expects Japan's economy revives a "moderate pace to recovery."As for financial markets, the Bank of Japan has been a "relative stability" of the markets after the disaster of 11 March.

She is worried that the 'weak financial positions of some companies, mostly small, since the earthquake. " Despite these statements Thursday morning, the benchmark index of the Tokyo Stock Exchange remained flat.Shortly before the close, the Nikkei displayed indeed close to balance, but still in the green, up 0.15% to 9599 points.

The Nikkei is resistant compared with other exchanges in Asia

If progress is not straightforward in the Nikkei this morning, the comfort that the announcement of the BoJ have given to Japanese investors this morning is measured by comparison to developments in other financial centers in Asia.

Several major exchanges in the region appear to have eased slightly: The South Korean Kospi fold from 0.54% to 2115 points, the Australian ASX was down 0.19% at 4903 points and the Indian BSE dropped 0.31% at 19,550 points.

In contrast, the Taiwan TAIEX index ahead by 0.25% to 8874.28 points.importantly, the Chinese places continued to grow, which seems immune to all events that affect investors worldwide, whether issues related to the situation in Japan, or those that pose debts Sovereign European countries in difficulty, such as Portugal, who admitted last night needing a European aid. Thus, in Shanghai, the CSI 300 rose 0.3% to 3321 points. In Hong Kong, the Hang Seng is in equilibrium (-0.04%) to 24,275 points. The Chinese financial market took a breather on Thursday, but it remains very dynamic and attractive, thanks to the influx of new companies in this market. Indeed, it has recorded no fewer than 37 applications for IPOs for the month of March.