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The euro fell to its lowest level in four months, tormented by the crisis in Greece and its possible output of the common currency. View from the seat of the ECB in Frankfurt

The euro fell below 1.27 dollars Wednesday, displayed at its lowest level in four months, following the failure of the formation of a coalition government in Greece, which worries the markets.

Wednesday at 7:00, the euro bought 1.2693 dollars, its lowest value since January 16 when he was traded again to 1.2728 dollars on Tuesday to 9:00 p.m.. The single European currency also fell against the yen, quoting 102.00 yen, its lowest level since mid-February vis-à-vis the Japanese currency. It was still worth 102.12 yen Tuesday at 2100.

Investors were worried about political instability in Greece, where new elections will take place by end June, no coalition government could not be formed at the end of negotiations following the elections on May 6

This election saw the Greeks punish the two pillars of the country's political system, the New Democracy (right) and PASOK (Socialist), because of their support for the austerity measures imposed by creditors in exchange Athens international loans needed to avoid bankruptcy the country. The party of the radical left Syriza, who focused his campaign on the rejection of rigor, came in second place on May 6 and seems to have the wind in their sails.

The political impasse has revived fears of a possible exit from the country of the euro area, the consequences seem difficult to predict. At their first joint press conference Tuesday evening, German Chancellor Angela Merkel and new French president Francois Hollande were willing "to consider additional measures for growth in Greece," if it requested. They also stated their desire that the country "remains in the euro area".

Greece still has no government. The risk of bankruptcy and the issue of leaving the euro area is raised again. Result: the stock prices fall and investors flock to German bonds, even if they yield nothing. The Eurogroup meeting will be devoted to Greece and Spain

After a difficult week, the stock markets reopened on Monday sharply lower against the backdrop of prolonged political stalemate in Greece, epicenter of the debt crisis, while be held a meeting of the Eurogroup.

Monday morning, Paris was losing more than 2% in early trade, London 1.33%, 1.31% Frankfurt. In Milan (-2.02%) and Madrid (-2.47%), the decline was more pronounced after banks have announced they will place new provisions because of subprime mortgage they hold in their portfolios. The day promises to be difficult, while "the risks to the euro area are still very real," said Chris Weston of IG Markets.

More than a week after the parliamentary elections, Athens still has no government. But the prolonged absence of government raised concern among investors in a delay or suspension of financial aid promised in Athens to enable it to meet repayment dates and ensure payment of arrears.

Monday, the Greek President, Karolos Papoulias, will try to snatch a coalition government during the final meeting between the country's political leaders. But many observers believe the country is moving towards new elections in June as the positions between pro-and anti-austerity diverge.  

Another sign of market nervousness, the 10-year rate of German bond (Bund) fell Monday morning at their historic low (1.47%). The political situation seems to push investors to turn to these securities deemed safe. "Investors plébiscitent increasing security even if the debt did their German report anything," said Nordine Naam, bond strategist at Natixis. He added: "Fears of an output of Greece of the euro are strong and, in case of persistent political deadlock in that country, the Bund interest rate expected to fall further in the coming days".

It was in this tense situation the finance ministers of 17 member countries of the euro area shall meet this afternoon in Brussels. A signal strength should be sent to Athens, to push the Greek authorities to put in a faster end to this in-between chaotic. Spain will, too, part of the program. The Spanish Minister of Finance, Luis de Guindos, will try to reassure, giving an overview of the reforms that Madrid will set up to consolidate its public finances. Is that Spain is in the viewfinder markets. The rate of its 10-year government bonds is back above 6%.

General Motors announced Wednesday consider selling its manufacturing plant in Strasbourg gearboxes and be looking for potential investors.

The U.S. automaker, which has taken an investment bank, said in a statement it had committed a "strategic review" concerning both the production as engineering and development of this plant.

He was willing to explore the internal and external solutions to find "viable alternatives and potential solutions to secure the future of the site".

GM intends to favor buyers who will continue the work site with the current force is about 1,000 people.

Last year, the plant produced 280,000 six-speed automatics, mainly for customers outside of Europe. 

GM announced in February an alliance with French carmaker PSA Peugeot Citroen.

French banking stocks opened sharply down Monday on the Paris Stock Exchange, after the results of parliamentary elections in Greece and the presidential election in France.

In early trade, the shares agricultural, heavily exposed to Greece because of its local subsidiary Emporiki weighed down by losses, falling nearly 6%.

BNP Paribas and Societe Generale fell by more than 3.5%, underperforming the European banking index down by 1.18% at the same time. 

In Greece, voters, angered by the recession and austerity, were heavily penalized Sunday the two main parties, New Democracy (ND, right) and the Party Socialist (PASOK), and offered to the radical left a spectacular breakthrough in the risk of boosting debt crisis and questions about maintaining their country in the euro area.

In France, Socialist Francois Hollande, who plans to reform the banking system to protect customer deposits and make the market less risky activities, has won Sunday's presidential election, marking the return of the left in power.

Lafarge will continue in 2012 its price increases, to reduce its debt and its asset sales, in a context of increasing global demand for cement which supported its first quarter results.

The world's leading cement, who is currently refocusing on the job and on the concrete and aggregates while leaving the plaster continues to anticipate for the year increased 1 to 4% demand for cement due to emerging countries, where it now generates 60% of its sales, and even Europe, especially in the South.

It is right to catch up on prices, particularly favorable to the margins of the group Lafarge anticipates a more moderate cost inflation in 2012 and 2011. 

"Price increases passed successfully at the beginning of the year confirm our optimism on prices for the entire year," said Chief Financial Officer Jean- Jacques Gauthier during a teleconference.

He also expressed confidence to proceed to a further increase in August in the U.S. cement.

Lafarge has maintained its estimate of the market in 2012 despite weaker business in Greece on the one hand, and despite the rebound in the U.S. on the other. Jean-Jacques Gauthier said that the North American market, the group wanted to wait safely in the second quarter before rising to possibly refine its current forecast of demand for cement, between -1 and +2%.

"The main figures should receive a positive reception, especially in light of recent pressure exerted on the action," said Goldman Sachs in a note.

Around 11:30, the title Lafarge is 3.2% to 30.92 euros, after a day earlier to 31.80. At the close of Thursday, title, posted a gain of 10% since the beginning of the year, after -42% in 2011.

OVER ONE BILLION EUROS FOR TRANSFERS OF ASSETS IN 2012

Lafarge posted first quarter revenues up 5% to 3.35 billion euros, slightly above the consensus reached by the editor of Reuters ; estimates from eight analysts who gave $ 3.3 billion.

The EBITDA increased its share to 8% and operating profit by 28%, while net income, group share, showed a loss of 44 million euros , -29,000,000 against a year earlier, reflecting restructuring charges corresponding in particular to the 500 job cuts brought worldwide as part of the reorganization of the group. 

Excluding these charges, Lafarge has emerged over the period with net income of 18 million euros.

Lafarge intends to reduce by at least 400 million euros this year and costs limited to EUR 800 million investment as part of its debt.

In the first quarter, the group's net debt, largely inherited from the acquisition of Orascom in 2008, declined by 13% year on year to 12.4 billion euros . One quarter to another, it is clear, however, up 3%, a trend linked "to normal seasonal variations in working capital (working capital needs)," said Lafarge.

To seek "significant" this debt in 2012, the group also to give one billion euros in assets, of which 71 million were performed on the quarter.

Jean-Jacques Gauthier said that Lafarge would exceed the figure of one billion, but without saying how much.

Both activities are the subject of rumors of transfers, the plaster in North America, a trade balance which the group is almost released last year, and cement in South Africa. Lafarge must also achieve significant asset sales in Britain required by the Competition Authority to give its green light to the proposed joint venture between Lafarge and Anglo American.

"It is not impossible that these divestitures can be made in 2012," said his side the CEO of Lafarge, Bruno Lafont, during a teleconference .

Executive Director International Monetary Fund (IMF) Christine Lagarde said Wednesday that member countries pledged to provide a total of at least $ 316 billion of priesthood ts to the fund to hold the debt crisis in the euro area.

"We have promises for more than $ 316 billion and I have more in the bag," said Lagarde.

The IMF said in January will increase its financial resources of $ 600 billion to guard against any spillover of the crisis of European debt. But obtaining firm commitments at meetings of the IMF, World Bank and G20 at the end of this week in Washington, might be difficult.

The United States including that they would not participate in these efforts. Canada has estimated that Europe had sufficient funds. Other countries, including China, Brazil and Russia expressed readiness to contribute to the financial effort but if they get in return more of the voting rights in IMF.

Christine Lagarde said last week that it was possible that the IMF has required fewer resources than he thought a few months ago, the economic and financial risks are being mitigated ; s. These resources could be increased from 400 to 500 billion dollars, an amount less than $ 600 billion initially cited, told Reuters several G20 leaders.

Areva announced Friday an agreement with EDF to provide the public with electrician nuclear fuel assemblies and related services for the years 2013 and 2014.

Financial details of the agreement were not specified.

The fuel assemblies, which confine radioactive material in sealed ducts, are the Centrally? Heart of a nuclear reactor, where fission takes place.

Areva and EDF also agreed to negotiate a framework agreement in the medium and long term on the fabrication of fuel elements.

The first tripartite round table on the future of the plant PSA Aulnay-sous-Bois has resulted in no concrete progress on Friday and the prefect of Seine-Saint-Denis set the next appointment in late June, after the presidential election.

The interview between the State, represented by the prefect, the direction of the automaker and the unions and local politicians, claimed for nine months by them, was stormy said Jean-Pierre Mercier, representative of the CGT, and five trade unions on these seven left the room before the end.

"The unions have called for PSA agrees in writing (…) To maintain all jobs at least until the end of 2016, officially ended production of the C3, and assign a new vehicle to replace the C3. But management does not want to commit to anything, "he said

." The next date falls after the presidential and the law, it is exactly the speech Peugeot: do not use that either in the middle of election campaigns, "he said

… In an attempt to …… get rid of this calendar, the CGT called for a rally next Thursday before the campaign headquarters of Nicolas Sarkozy in Paris

.

The Department of Industry, has said his side "fully alert and mobilized to the site's future automotive Aulnay-sous-Bois" and stressed in a statement, the group confirmed that it "does not consider the proposed closure of site in France." 

But at the roundtable, PSA Peugeot Citroëna again refused to discuss the C3 after repeating, as it has for several months, will still produce cars qu'Aulnay until 2014, unspecified beyond.

The builder also mentioned, the statement of the Ministry, the arrival on the surfaces of Aulnay-sous-Bois unused today, "new economic activities complementary ments ".

PSA declined to comment on the roundtable, but a spokesman said that about 40,000 square meters on the site now unused, 23,000 were de ja and 17,000 rental available for rental for industrial and real estate. 

The factory in Aulnay-sous-Bois, which produces the small Citroen sedan, employs 3,500 people and seems the most threatened European sites of PSA while the group was given two years to re ; Gler the issue of persistent overcapacity in Europe.

The fate of the Madrid plant also raises questions as no model has been announced to take forward over the last Peugeot 207 assembled therein.

Unemployment insurance has been reminded by the Supreme Court the obligation to provide full information to job seekers, particularly in access to benefits. She has no room for error in this regard. Which should cause it to reorganize its procedures. Agency employment center in Nice

This is a decision that may have serious consequences for employment center to the edge of implosion. The Social Chamber of the Supreme Court ruled on February 8 that judge as unemployment insurance has failed in its obligation to deliver a "comprehensive information" to a woman about jobless benefits she was entitled. This decision "at the expense of employment center a general duty of information for all job seekers," he told AFP Me Christelle Mathieu, confirming a report by France Bleu Nord. "Now the burden of proof shall be on the employment center," while far a job seeker who felt cheated had to prove its allegations, she said. "It will be the employment center to prove that he has informed the job seeker," she added.

An obligation to properly inform

Moreover, "the Supreme Court has said that employment center has an obligation to provide full information," said the lawyer. Brochures and flyers have indeed been declared inadequate by the courts. The question is will it involve in terms of organization for the employment center. "One can imagine that (…) it will be individual interviews with job applicants, but since depth interviews will need to define precisely what rights the job seeker", which is entitled to several benefits, Mr. Mathieu said. "When we have two possible allocations, employment center will guide the job seeker to one that is most advantageous to him," she said.

His client had requested a specific solidarity allowance (ASS) which was paid from 2004. But during 2005, she had learned "by chance", she could benefit from the retirement allowance equivalent (EAR), the more advantageous, according to his lawyer. She asked that the EAR, it could actually benefit since 2003, he be paid retroactively, as unemployment insurance refused him. She was then approached the court and obtained the High Court of Valenciennes, April 27, 2009, 14,774 euros in damages for the injury sustained, Mr. Mathieu. This judgment was upheld by the Court of Appeal of Douai 16 June 2010.

Now, what will happen to employment center? Unions never fail to complain about a lack of resources and personnel and a degradation of services to job seekers, since the merger of the ANPE and UNEDIC. This lack of resources also derive worse working conditions for staff of employment center, whose workload has exploded and that no longer benefit from 1,800 additional posts in CSD granted when the crisis erupted.

Airbus officials, airlines and engine manufacturers in Europe have written to the Old Continent's political leaders urging them to resolve the dispute caused by the introduction into the European Union a tax on carbon emissions.

The signatories believe that retaliation from China and other countries opposed to the European level of taxation of carbon emissions (ETS) have serious consequences for the sector, of bitter ; s a statement released Monday by Airbus, a subsidiary of aerospace consortium EADS.

The aircraft manufacturer, China has already suspended $ 12 billion (9.14 billion) of orders, which could lead, according to him, the destruction of over 1,000 jobs in-house and at least 1,000 in additional subcontractors. 

The nine general managers signed the letter addressed to Prime Ministers English, French, Spanish and German Chancellor expect that the list of cancellations of orders continues to s' thicken.

They ask the urgent opening of negotiations at the European Council and with third states opposed the carbon tax, while the situation becomes, they say, "intolerable for the sector of the Aviation ".

"The aim must be to find a compromise solution and to stop these punitive measures before it is too late," say company executives quoted in the press release.

"We always thought that only a global solution would be adequate to solve the problem of aviation emissions."

The tax on carbon emissions is an added cost of about two euros per passenger for a path between the Europe and China

. Airbus addition, the letter is signed by the heads of British Airways and Iberia, the two components of International Airlines Group, Air Berlin, Air France, Lufthansa, Virgin Atlantic, Safran and MTU Aero

. pre Entrepreneurs ; advocates of the opening of negotiations with the states concerned in the Aviation Organisation (ICAO), a UN entity

… A GLOBAL SOLUTION …… STILL EXPECTED

In a separate letter sent to the President of the European Commission, José Manuel Barroso, Airbus CEO Tom Enders deplored the "serious situation" caused by the threat of retaliation from China and other states. 

"It seems that these threats are now becoming very real and translate into concrete actions, which begins to have serious consequences on the European sector of the aviation, "he says in this letter, which Reuters had access.

Friday, the Environment Ministers of 27 EU countries have reaffirmed their support for the carbon tax.

The European Commission has called for its forced to act unilaterally, unless a viable proposal and applicable globally from ICAO.

"Nobody would be happier than the European Union" if ICAO could provide a solution that is at least as good as that of the EU assured Connie Hedegaard, European Commissioner for Action climate. 

"We are fighting for this since 1997," she told Reuters last week. "We work very hard internally with ICAO."

China, where the aviation market is experiencing its strongest growth, is a major customer of Airbus and Boeing.

Beijing seeks to control aircraft in large quantities, through a central purchasing, before allocating the units to different airlines. Its final green light is necessary for the delivery of the aircraft.