International & World Report

Further escalation, that night, in the war between the elected officials for several months Republicans and Democrats in the U.S. to find a solution to the need to reduce the U.S. budget deficit. Having failed to reach an agreement with Barack Obama, the chairman of the House of Representatives, Republican John Boehner, Friday slammed the door to negotiations with the president.

At issue this time, as the Republican's will vote Democratic president to make an additional $ 400 billion of tax increases. A demand unacceptable, according to Boehner, while the two sides had previously agreed to a ceiling of one trillion dollars in additional tax revenue.This Saturday, the threat of a default by August 2 of the world's largest economy has thus further increased.

Of default formally excluded

The President has convened several political leaders to an emergency meeting Saturday afternoon at the White House to try yet again to reach compromise. Both sides say they are confident of raising the debt ceiling (14.294 billion U.S. dollars), reached on May 16, but whether common ground had been reached on the amount of the uncapping. Barack Obama and John Boehner have ruled out a formal non-payment within 10 days.

But the talks still face the question of the amount of budget cuts and debt reduction.Republican side, John Boehner said that after the new clash, he preferred to look to the leaders of the Senate to find a "reasonable" on these issues. Which casts a big doubt about the outcome of negotiations Saturday with the president, which is called Boehner. Democratic side, Barack Obama is prepared to assume full political responsibility to raise the debt ceiling in order to unlock at least for a time, the status quo. "If that's all Congress can do, I will sign an increase in the ceiling to take us to 2013," the president said.

Obama recalled that he had proposed to the Republican's $ 1.65 trillion spending cuts various offers an "extraordinarily fair" said the president.But still not enough for John Boehner, who accuses the president's inability to take "tough decisions" on reducing public spending. Boehmer wishes to bring to the 3 trillion budget savings over 10 years.

Time-critical

The time to find common ground is critical. The readiness of Barack Obama to convene a further meeting this Saturday is a sign that the U.S. president does not want to wait until the deadline of August 2 to reach an agreement. "We have more time in front of us," he said.

Recalling that Wall Street opened Monday, the president pointed to the impact on financial markets of such uncertainty. "Americans are outraged" by the inability of Congress to act, he said.This willingness to find a solution is also shared by the Republican camp, in which counsel highlighted the urgency of an agreement by Monday. What then leave both parties ten days to write a non-redundant legislation and get it validated by Congress.

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Saturn must be profitable in three years: it is the objective that its new owner, HTM Group, has set. The holding of the family group Mulliez (Paragraph, Kiabi, etc.). Boulanger strengthens its brand with 35 stores in French Media Saturn, a subsidiary of the German Metro, which she bought on June 30 for an undisclosed price.

"Saturn knew generate traffic in its stores with low prices and promotions, but never developed Internet business and has never managed to be profitable," especially in front of supermarkets are on the same niche (26 % market share), explains Layous Bernard, director of purchasing and marketing Boulanger.

"With Saturn, Boulanger changes category. Faced with global suppliers, we will have greater purchasing power and we will be known to the public, "he says.The distributor of multimedia products and services and appliances improves its national coverage with this acquisition, which "saves 3 to 4 years of expansion." Even if Baker is, first, giving up open the store on the outskirts of Saturn provided Avignon and on the other hand, give five other outlets of the brand (Toulon, Le Havre, Mulhouse, Aubergenville , Angers), and a shop in Tours Boulanger to respect the opinion of the Competition Authority on the merger.

No project abroad

The integration of the stores kept Saturn, which carry a turnover of 500 million euros, will allow Boulanger (97 stores) to reach the 2 billion mark in sales in a French market the electrical appliance 22 billion euros, according to Gfk.

"The market has been growing steadily for twenty years, with the exception of 2009," says Francis cord, CEO of HTM Group. Since the beginning of the year, but the activity is again down, 1.2%, except for sales professionals on the Internet, such as Darty and Fnac. These are already doing about 10% of their sales through this channel, twice as Boulanger, who made his priority. Points boulanger.com withdrawals and will appear in the old Saturn, because a client of two picks the order.More reason to want to see HTM Group "soon" its goal of 150 stores Boulanger on the rise, with major cities and especially Paris-line of sight. International expansion, produced by its competitors, remains a dream, "but before going abroad, one must be strong in our home market," said Francis cord. Confident, it provides a higher turnover of Boulanger 3% over the year, at constant perimeter.

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Even stronger in Asia on Monday morning, investors reacted badly to the new rescue plan for Greece: the Paris Bourse, a technical problem prevents the scoring but when the problem is solved, the CAC is expected to fall sharply and move under the 3800 points, which had not happened since March 18. "Some technical problems occurred during the pre-opening, the markets could not open on time and are working to resolve this issue as soon as possible," said NYSE Euronext exchange group at the time of Opening assumed the Paris Bourse, at 9 am.

Despite a new rescue plan for Greece launched last night by finance ministers in Europe, markets remain worried and disappointed "investors continue to seek a quick fix that is not the working time of European political authorities.The difficulties in finding compromises will continue to maintain the highest concern, "warns one at CM-CIC.

After the reassuring words of French and German leaders who have displayed a welcome unity Friday, the firm tone adopted by the ministers said that the issue will be very long to resolve. The central bankers in the eurozone have defined the conditions of payment of a further tranche of loans in July, but the finance ministers of the euro area indicate that the release of the loan must be accompanied by the vote of a new plan of austerity and privatization by the Greek Parliament. Banks and other private creditors and participate in this new plan. However the contours of that plan remains to be defined.

In Milan, the stock market fall of over 2% after the warning from the rating agency Moody's on Friday night.The agency said Friday it planned to lower the debt rating of Italy, currently set at "Aa2." The agency said the risks to growth, financial markets and the government's ability to reduce the deficit. Featuring Dax index of the Frankfurt Stock Exchange opened sharply down Monday from 1.20% to 7078.59 points against 7164.05 at the close Friday. The London Stock Exchange it retrograde from 0.87% to 5665.24 points.

On the currency side, the euro weakened against the dollar: 7:45 to Monday morning, the euro lost 0 instant personal loans guaranteed.57% to 1.4225 points, showing that the meeting euroépenne last night did not convince the markets. In addition, oil continues to fall sharply, quoting under $ 92 in New York.

Opening of the Paris Air Show

All eyes will be mostly shot on the Paris Air Show, which opens Monday.Bad news for Airbus (parent company: EADS) last night, an incident of a private Airbus A380 giant aircraft flight, the aircraft had struck the wing of a building while being towed on taxiway of the airport. Boeing, he launches the new version of its popular 747 jetliner, highly anticipated.

In addition, the CEO of EADS, Louis Welsh, said the sale of 22.5% stake held by French and German states could be done without exposing the group to a hostile takeover, note leFinancial Times. Louis Welsh evokes an existing structure "extremely hard" for the development of the company.

Sanofi-Aventis. An investigation into a corruption case involving employees of the pharmaceutical group in Germany was opened, said Sunday a spokesman for prosecutors in Verden."Sanofi confirms that there is an ongoing investigation and that he will cooperate with the authorities related to this investigation," said his side a spokesman for the group.

PSA Peugeot Citroën. The mayor of Aulnay-sous-Bois (Seine-Saint-Denis), Gerard Segura, announced Friday it had requested an appointment at Industry Minister Eric Besson for clarification on the future site of PSA Peugeot Citroën.

Areva / EDF. According to reports in The Tribune, Nicolas Sarkozy has warned a week ago the CEO of EDF Proglio the departure of Anne Lauvergeon.He finds himself in a strong position.

The French group Publicis has bought Chinese Genedigi, specializing in public relations, events and digital marketing, with about 400 employees, for an undisclosed amount, he said Monday.

"CONTEST: Estimate the Cac 40 in late June

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Too big banks are no longer popular. International regulators working on a way to discourage institutions to reach a critical size, representing a systemic risk. The aim is to avoid repeating the situation in 2008 when, at the height of the crisis, governments were forced to come to the rescue of the banks described as "too big to fail", ie plants with failure could endanger the financial system.

The Basel Committee on banking regulation, which will meet next week and consider the implementation of specific measures to the thirty largest banks, reported Bloomberg and the Financial Times. The idea would be to impose new capital requirements higher than other institutions through the application of a new specific prudential ratio.If these measures are validated, the additional reserve capital that institutions would be selected will earn 3.5% of their risk-weighted assets according to Bloomberg, or 2.5% reported the Financial Times. Restrictions in addition to 7% imposed under the Basel III standards.

The new ratios would be imposed on institutions sliding scale depending on the size of banks and their links with their competitors. The Bloomberg stressed that the highest ratio of 3.5% is not applicable today. But it would serve to discourage institutions to grow further.

France wants to exclude Crédit Agricole and Societe Generale lists

In total, nearly 30 banks that would be an increase in their capital reserve requirements. The most severe restrictions relate eight institutions including BNP Paribas.Four other European banks (Deutsche Bank, HSBC, RBS and Barclays) and three U.S. (Citigroup, JPMorgan and Bank of America) are also involved no fax cash advance. They would be forced to comply with a Core Tier 1 ratio, an indicator that measures the equity of 9.5%, the Financial Times. A second level would include four other banks.

But the list of banks involved are not yet fixed. The French regulator to try and ensure that Crédit Agricole and Societe Generale will be free of these new rules.

In addition, regulators have not defined the means by which institutions can be put in order.The arsenal of new rules imposed specifically to institutions "too big to fail", whose size deemed critical obliges the authorities to intervene in case of bankruptcy, should be ready for the next scheduled for November G20 stated Mario Draghi, chairman of the Financial Stability Board, in April.

But these new laws should not prevent banks from merging. "Institutions should already get the green light from regulators before any merger, the new ratios will be charged an additional constraint," says a corporate lawyer at the agency Bloomberg.

Little reaction in the markets

These ads have little impact on the shares of French banks. In the morning, the folds of the securities of banking stocks are less important than their benchmark index, the CAC40.The banks operate in a pocket-handkerchiefs: Company Génarale folds 0.5% 0.4% BNP Paribas and Credit Agricole 0.3% against a fall of 1% for the CAC 40.

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"The risks to the stability of the euro area

While the rating agency Standard & Poor's downgraded three notches note of Greece who becomes the country with the lowest rated in the world, the eminent economist Nouriel Roubini sees the end of the eurozone. In an article published in the Financial Times, the man who announced the financial crisis of 2008 estimated that countries of the European periphery abandon the euro within five years.

In the eyes of Nouriel Roubini, the debt crisis that weakens current euro area highlights the flaws in this monetary union. In fact, the euro zone has never been an "optimum currency area", ie a group of countries has any interest in sharing a single currency. There is indeed always been too strong and competitive economic differences between countries in the euro area.The founding fathers of the euro area, however, hoped that the differences between fiscal, monetary and exchange rates are offset by an acceleration of structural reforms within the euro zone countries. These measures would then have enabled the countries of the eurozone converge.

Without economic convergence, the euro area is doomed to failure

But "the reality is quite different," says Nouriel Roubini. Following the establishment of a common monetary policy, countries are folded on the weapon budget to adjust their economic policies. Very different policies have been implemented within the eurozone. Consequently, the lack of fiscal discipline in countries like Greece and Portugal involved in the birth of speculative bubbles in other countries like Spain or Ireland. And finally, the peripheral countries have become less competitive.

Economist reaffirms that to work, creating a currency area must be accompanied by a fiscal policy even as the establishment of supranational sources of income or the issuance of sovereign bonds Commons. In the absence of economic convergence, the euro area is doomed to failure, according to the economist.

Thus, Nouriel Roubini believes that there is now a way to restore the competitiveness of peripheral countries: leaving the euro, return of national currencies and depreciation. Such a scenario seems inconceivable today, is the economist who said that nothing says that in five years this idea has not gained ground, especially if the economies of peripheral countries are stagnating. Unless the idea of ​​a Euro reaches more federal drilling, some European leaders call for that greater European integration.

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Until this afternoon, prudence and tensions were on the agenda of this meeting at the Paris Bourse. But at the opening of Wall Street, where the indices have moved into the green after six consecutive sessions of decline, the CAC 40 rebounded to finish sharply higher on Thursday from 1.06% to 3878.65 points . The figure on foreign trade in the U.S., better than expected, reassured investors cooled by a series of bad numbers in the U.S. and the Fed has not proved reassuring about the economic recovery of the first power of world.The Beige Book from the U.S. central bank (Fed), published during the session on Wall Street has reinforced the comments made by chilling the day before Ben Bernanke: "Economic activity continued to grow in general, but a small number of regions have expressed some slowing. "

Remains in the United States, the situation remains worrying in that the U.S. government can not reach agreement on a possible increase in the debt ceiling from the federal government, which must yet be approved before August 2 . After S & P and Moody's, Fitch has in turn launched an alert on U.S. debt, threatening the country's triple-A.

Elsewhere in Europe, the trend is good too.The London Stock Exchange finished up 0.82% to 5856.34 points and the DAX index of the Frankfurt Stock Exchange was up 1.41% to 7159.66 points.

Consumption expenditure of households leave

In France, payroll employment has increased its recovery in the first quarter and the balance of agency has eased, according to Insee. The sectors mainly merchants have created a total of 58,200 jobs after 48,300 over the last three months of 2010, an increase of 0.4% against 0.3% on the previous quarter.

Consumption expenditure of households is distributed last year (+1.3% in real terms after only 0.1% a year earlier in a crisis).This has contributed to two thirds of the growth of the French economy in the year of recovery after the global recession of 2009.

Inflation, measured by changes in consumer prices, rose 1.8% between late 2009 and late 2010, year on year, double the previous year.

In the U.S., new jobless claims were virtually unchanged, said Thursday the Labor Department, which identified the filing of 427,000 benefit claims in the country from 29 May to 4 June, while analysts expected 423,000 new registrations.

The euro and oil up

On the currency side, around 17:30, the single European currency fell back and was worth 1.4516 dollars against 1.4575 dollars late Wednesday.

Side oil prices are trending upward, failing agreement within OPEC to increase crude production.On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for July delivery traded at 101.61 dollars, up 87 cents from the previous day.

LVMH would prepare a "supply shock" Hermes

Hermes: 2.21% to 191.95 euros, LVMH: 0.65% to 116.90 euros

Rumors times by the British newspaper Daily Mail, LVMH would prepare an offer of 350 euros per share Hermes, which holds 20.21% stake, a premium of almost 100%.

Peugeot SA: +2.42% to 28.41 euros

The automaker PSA Peugeot Citroen plans to close its site of Aulnay-sous-Bois (Seine-Saint-Denis) "Current 2014" and that of Sevelnord (North) in 2013, threatening 6,200 jobs, according to an internal document of the group presented to the press Thursday by the CGT.

Club Med: + 5.11% to 16.13 euros

The group announced on Thursday a profit of 10 million euros in the first half, against 3 million in the first half of 2010. The indicator of profitability of the villages of the French group jumped 67% to 47 million euros.

Remy Cointreau: + 0.11% to 56.56 euros

The group reported a net profit 2011en 2010-down more than 18%, to 107.5 million euros, 109 million lower than expected by the market.

Ipsen: -3.24% to 25.83 euros

The band announced an increased specialization and investment under its new strategy.He envisions one-time charges of 80 to 100 million euros before taxes in 2011 and 2012, related to the implementation of this strategy will require the closure of Research & Development in Barcelona.

Air France-KLM: -0.79% to 10.71 euros

The airline announced Wednesday an increase in passenger traffic in May, albeit at a slower pace than in April, which had benefited from favorable comparison bases.

Aeroports de Paris: + 0.95% to 64.91 euros

ADP announced Wednesday it had entered into exclusive negotiations with the operator of airport services 3S Group to cede a majority stake in its ground handling activities.

EADS: + 1.72% to 21.57 euros

The largest private airline in India, Jet Airways, will be ordered ten Airbus A330 aircraft, said its chairman Naresh Goyal quoted Thursday in the daily The Economic Times.

Schneider Electric: + 3.07% to 114.10 euros

The French electrical equipment manufacturer announced Thursday the acquisition of the Chinese Leader & Harvest Power Technologies Holdings, which specializes in variable speed drives, based on a valuation of 450 million euros (including debt).

EDF: + 1% at 27.33 euros

EDF could be tested by the weather this summer. RTE, the French electricity network operator, today the government's scenario for the summer.Dry weather and heat wave could cause the system to its limits.

Sopra: + 1.08% to 85.51 euros

The shareholders gave the green light Wednesday to the proposed demerger and listing of Axway Software, the software division of group counseling and services.

Next recommendation, Suez Environment (2.11% to 14.28 euros, the biggest increase ACC) is supported by JPMorgan, while Havas (1.49% to 3.54 euros) is supported by an increase of Kepler's opinion to buy, cons ease.

Saint Gobain, Bolloré and Ruby hold their general meeting today.

"QUIZ Estimate the Cac 40 in late June

Dominique Strauss-Kahn has been formally charged by prosecutors in New York "sexual assault" and "attempted rape" and "sequestration" a few hours after being arrested at the airport in New York, said Sunday police. The Director of the IMF, which should be presented in the day a judge, plead "not guilty", said one of his lawyers told Reuters. He was still detained at the police station at night in Harlem and should remain there until his transfer to the floor.

DSK was arrested Saturday at 16:45 (local time) at the airport John F. Kennedy, just before his departure for Paris, assault sexuelle.Il was then placed in custody at a police station in Harlem.

According to preliminary information gathered by the New York Times, the incident allegedly took place at 13 pm in a room at the Sofitel Hotel in Manhattan.A cleaning woman, aged 32, had entered the following former minister she thought incoccupée clean. Dominique Strauss-Kahn would be out of the bathroom naked and tried to sexually assault her.

A departure "in haste"

The woman managed to free themselves would be instantly and prevent some members of hotel staff, who contacted 911. When police arrived on site, DSK had already left the scene, leaving his mobile phone and personal effects. According to Paul J. Browne, spokesman for the New York Police quoted by the Associated Press, the head of the IMF seems to have left the hotel "in haste".

Investigators civilian Ports Authority of New York and New Jersey are then left to meet him at JFK airport, where he had boarded an Air France flight that was about to take off."We put him in custody and delivered to the New York Police Department (NYPD) said on condition of anonymity an official of the Ports Authority of New York and New Jersey. The investigation should be conducted by the special unit "Special Victims Unit."

A scandal in 2008

Dominique Strauss-Kahn had to participate Monday at a meeting of finance ministers of the euro area in Brussels, then make a speech Wednesday at the 12th Economic Forum. The IMF has not yet officially reacted to the arrest of its chairman. The Consul General of France in New York was able to meet DSK, BFM TV reported.

In recent weeks, Dominique Strauss-Kahn is the target of criticism in France on his lifestyle, his wealth being scrutinized in the press. He had cons-attack Friday in announcing a lawsuit against the daily France Soir.Following the former minister in the Sofitel was given to 3000 dollars a night, said that under the New York Times.

The IMF director's career was seriously threatened in October 2008 after the revelation of an extramarital liaison with a Hungarian economist of the institution. But Dominique Strauss-Kahn had been cleared of all charges of abuse of power by the Board of the IMF, which had alleged a "serious misjudgment". His star on the French political scene has not faded in this case, DSK continuing to prance in the polls As we approach the presidential election of 2012.

U.S. stock markets take a breather after three sessions of consecutive increases. The Dow Jones lost 0.39% to 12,710 points in early trade, the Nasdaq was down 0.23% to 2865 points and the S & P coward 0.38% to 1352 points.

On the macroeconomic front, more bad news fell. The United States saw their trade deficit widened sharply in March, reflecting among other things of higher oil prices, according to figures released Wednesday by the Commerce Department. On a seasonally adjusted, the deficit rose to $ 48.2 billion against 45.4 billion the previous month.The deficit reached 18.1 billion with the second partner, China.

In fact China, the government announced Wednesday that inflation in the country fell slightly in April to 5.3% against 5.4% in March (less than expected by analysts), while output growth Industrial slowed with an increase of 13.4% in April against 14.4% in the first quarter.

Oil down

These statistics demoralize the Chinese oil markets worried about the state of global demand. Oil prices retreated at the opening in New York on Wednesday before the publication of the state of U.S. inventories.On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for June delivery traded at 102.88 dollars, down $ 1 from the previous day.

On the foreign exchange market, the euro lost it again a little ground against the dollar Wednesday in a market where persistent concerns about the fragile fiscal position of countries in the euro zone, with a spotlight on Greece. The euro is worth 1.4307 dollars against 1.4410 dollars on Tuesday at the close of Wall Street.

Disney severely punished

The side of values, the media group and leisure U.S. Walt Disney (-4.80% to 41.80 dollars) disappoints.He reported on Tuesday after the close of Wall Street, a decrease of 1% of its net profit in the second quarter of fiscal shifted, to 942 million, far below expectations.

In contrast, Macy's (7.25% to 28.24 dollars) on Wednesday quarterly profit rose, thanks to a stronger middle class consumption, while raising its forecast for earnings and sales business for 2011 quick cash. The quarter ended April 30 ended with a net profit of 131 million dollars (91 million), or 30 cents per share, which is six times higher than the $ 23 million (five cents per share) recorded the previous year.

The British oil company BP (+0.27% to 7.37 dollars), said it had received the final green light from the Brazilian authorities for the purchase of ten exploration blocks offshore Brazil to the American Devon Energy in a transaction of $ 7 billion.

Google (-0.33% to 540.80 dollars) said Tuesday it had set aside $ 500 million in anticipation of the results of an investigation recently launched by the government on the practices of some of its customers in advertising. This provision reduced net income for the first quarter to 1.798 billion dollars against 2.298 billion announced April 14.Advertising has secured 97% of 8.575 billion dollars in turnover during the quarter.

AIG (6.33% to 31.45 dollars) and the U.S. Treasury Department could launch a capital increase of $ 9 billion in May, while analysts expected an increase of 7 to 25 billion dollars, according to the Wall Street Journal.

The Chinese airline China Southern Airlines has announced that its subsidiary Xiamen Airlines has ordered six Boeing 787 (-0.24% to 79.34 dollars), the new jumbo "Dreamliner," a list price of 1.1 billion dollars.

General Motors (0.60% to 31.80 dollars) announced Tuesday it would invest two billion dollars in 17 of its U.S. sites. GM says these investments will create or safeguard over 4,000 jobs.

Also note, these Chinese companies will start this Wednesday at the New York Stock Exchange.The first website Chinese dating, Jiayuan. Com, hopes to raise nearly $ 78 million. Meanwhile, China Zenix Auto, which is defined as "the largest manufacturer of wheels for commercial vehicles" in China, will debut on the New York Stock Exchange (NYSE) on Wednesday. The offer is expected to total $ 135 million.

Strawberries that taste, crunchy and tasty carrots, strained the farm … in good milk products of the 450 gardeners and farmers grouped under the name the small producer a hit in supermarkets. Latest additions to the range, dairy products available since March in more than one hundred Monoprix Paris. "I sell yogurt 20,000 per month to Monoprix, which has undertaken over one year," said Philippe Ridet, a farmer in the Yvelines Allainville. My products are best valued by at least 10%. "

An approach that meets the expectations of consumers. "The future of agriculture is at the local! Launches Bruno Le Maire, Minister of Agriculture and Food, a staunch supporter of the Small Producer. Import apples from Chile is an economic and social aberration.Consumers understand less and less why, in France, we are bringing products from across the world. "

But to bring supply and demand, it was still necessary to involve the supermarkets. "The idea is to create a link between man-made production, the farmers and consumers," said Stephane Macquaire, Managing Director of Monoprix. It is up to us to further develop this proximity between production areas and our customers. "This loyalty to our customers who have confidence in these products," adds Didier Debievre relations director with the agricultural world at Carrefour.

The latter has also embarked on the process. In the hypermarket Carrefour d'Aix-en-Provence, Ludovic Bonnafoux, a small producer in Grans, near Salon-de-Provence, is two months since the incumbent local provider.Photo of the gardener and his wife Magali is displayed in a large center island fruit and vegetable store online cash advance. Last week, the baskets of pot-au-feu accompanied by a recipe went like hotcakes. "It's just my department, I want it to be perfect," said the gardener, who regularly checks the status of the stand. "This partnership assures me every week and saves me an outlet to sell off my surplus," said Ludovic Bonnafoux.

Distributors to the local search

"The original idea was to allow consumers to know where did the products," explains Nicolas Chabanne, founder of the Small Producer, an association formed in 2003 to assist producers. He began by organizing direct sales at farm, then became known by delivering hospitals, the press and politicians.First and foremost the president, Jacques Chirac at the time. After four years, Bernadette eventually even receive the producers in the hall of the Elysee. Next step by the summer school canteens. Bruno Le Maire, who wants to change the legislation on tendering, will enable them to buy from local producers.

Small Producer of Fame, which was formed in the meantime a limited company, it has gradually win against the distribution. Sold up to 30% more expensive fruits and vegetables appealing all signs, happy to have more than one partner. The small producer, which began with convincing luxury shops such as Fauchon and La Grande Epicerie, now 600 products referenced in a thousand points of sale.Its sales this year expected to exceed 10 million euros, three times more than last year, and hopes to be the beneficiary in one year. His next challenge, decline the concept of small producers in the meat.

Irish debt enters the red zone. On Friday, ratings agency Moody's Investors Service has indeed lowered the rating two notches of Ireland "Baa1" to "Baa3", pushing the country to the lowest level possible for reliable borrowers. In other words, the last step before investor confidence will eventually volatilize. And Moody's notes that this degradation is accompanied by a 'negative' outlook, leaving the door open to future further degradation, although this decision should not intervene "in the medium term."

If a new downgrade of its debt were to be decided, the country would be in fact classified as borrowers may not honor their debts. Ireland would therefore its sovereign bonds classified as "junk bonds" – or junk bonds, and would have the greatest difficulty in borrowing on the markets.And a restructuring of its debt would be necessary.

The bailouts are linked together, the challenges remain

This decision was taken by the rating agency because of the deteriorating economic outlook of the island. Paralyzed by a financial crisis, Ireland has been trying for two years to improve its economic situation. She suggested early April fifth bailout of its banking system, in great difficulties, which must be recapitalized to the tune of 24 billion euros.

An austerity plan aimed at reducing the public deficit to 3% of Irish GDP in 2015 from 9.6% in 2010 was also adopted by the country before the elections of 25 February, to keep its promises to the IMF International and the European Union that have provided aid to 85 billion euros.

A new recession

Despite these efforts, economists forecast remains bleak.Last week the central bank of Ireland has revised down its growth expectations for this year: Ireland's GDP should grow by 0.9% it in 2011, 0.1 percentage point less than its initial forecast formulated in January. It also lowered its expectation for 2012 s Croisances from 2.3% to 2.2%.

She also gave the term "recession" on the current year, after the Irish GDP has declined for three consecutive years, falling by 1% in 2010 from 3.5% in 2008 and 7.6% in 2009.The IMF has also produced a report on the state of the Irish economy and its prospects, which should be published that day.

Corruption, the housing bubble and lax financial regulation that boosted the country's growth until the outbreak of the financial crisis in 2007, could continue to encumber the Irish economy for several years.

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