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The day after a jump of 2.46% which allowed the Cac 40 to exceed the 4000 points, the index is still up: 0.29% to 4016.19 points in ouerture. Last night Wall Street has ended sharply higher and higher over the past three years, supported by the technology sector, and this morning, Asian markets are doing well. The London Stock Exchange opened higher by 0.26% from Wednesday's close at 6037.71 points. The DAX index of the Frankfurt Stock Exchange shows him, up from 0.62% to 7294.58 points.

Side currency, the euro continues to rise inexorably. This morning, it still takes 0.32% and 1.4568 dollar rating, a level not seen since December 2009. The next resistance is at $ 1.46. On the commodity front, oil flies: the classes were still on the upside this morning, boosted by gains on Wall Street the previous day.In morning trading, a barrel of light sweet crude for June delivery took 53 cents to 111.98 dollars. That of Brent North Sea crude for June delivery gained 38 cents to 124.23 dollars. Wednesday, the price of a barrel of oil jumped more than three dollars in New York, under the effect of an unexpected fall in stocks of petroleum products in the United States and a sharp weakening of the dollar.

On Thursday, the economic program, we will now German Ifo barometer at 10 am, followed very investors.United States, the traditional weekly claims for unemployment benefits fall to 14.30, then 16 hours, the composite indicator of economic activity will be unveiled in March, and the figure very important activity in the region Philadelphia in April.

Schneider, Lafarge and Plastic Omnium in top billing

Side values, Schneider Electric (3.41% to 118.15 euros, higher up) has published a turnover up 26.5% in the first quarter to 4.94 billion euros and confirmed its objectives of growth and profit for the year 2011. According to its chief executive Jean-Pascal Tricoire, interviewed by Le Figaro, there are no talks with U.S. giant Tyco.

Just behind Lafarge rises from 2.87% to 47.74 euros. Goldman Sachs noted in his advice on the purchase value, which was previously neutral.Then comes Plastic Omnium (2.70% to 65.50 euros), whose turnover grew by over 36% in the first quarter, estimates that its activity should remain good in the second quarter due to production global automotive always supported.

Scor climbed 2.61% to 19.48 euros). Nomura has begun monitoring the reinsurance industry in Europe with a conservative view but has positioned itself to purchase at Scor.

Debt Eiffage (2.18% to 43.63 eruos) is not a concern, said in an interview with Les Echos published on Thursday Deputy CEO of construction group and concessions, while stressing that the goal was to reduce the debt of 300 to 400 million for each of the years 2011 and 2012.

The French group Alstom (1 make quick cash.93% to 44.57 euros) and China's Shanghai Electric together through the creation of a joint venture their boilers from coal, creating the market leader.

Accor, Sodexo Bénéteau and shunned

Conversely Accor disappoints sharply (-4.39% to 30.07 euros): the hotel group has seen its business grow by 5.8% in the first quarter and remains confident in the continued recovery in the hotel cycle in 2011 .Turnover totaled 1.354 billion euros in first quarter (+5.5% organic) with respect to 1.359 billion provided by Reuters.

The manufacturer of pleasure boats Beneteau (-4.06% to 14.89 euros), has announced a reduction by more than half its operating loss in the first half of 2010-2011 compared to the same period last year and confirmed its performance targets throughout the year. [

it was discovered this morning that Sodexo (-1.49% to 52.07 euros) has revised upward its forecast for annual revenue: the world's second largest catering, now thought behind Compass do for 2010 – 2011 a growth of around 4.5% so far it expects a growth of 3 to 4%.

Publicis (-1.59% to 38.27 euros) this morning publishes an organic growth of 6.5% over the period to 1.286 billion euros, against 3.1 in the first quarter of 2010 and the chairman of Publicis, Maurice Levy anticipates that 2011 will be "good or very good."

The wine and spirits group Remy Cointreau (-1.46% to 53.90 euros) Thursday announced revenues for its fiscal year 2010-2011 (ending March) up 12.4% to 908 million euros, with demand still very strong for its cognacs, particularly in Asia.

APRR (0.45% to 50.92 euros), whose activity increased by 4.1% in the first quarter, expects a less favorable trend in the second quarter mainly due to higher prices fuels that could affect the traffic of cars and trucks.

Safran (+0.88% at 24.53 euros) holds a general meeting at 10 o'clock during which shareholders have entrusted to Jean-Paul Herteman a second term and appoint the CEO, while Vivendi will be held at 10:30. Jean-Bernard Levy, "Vivendi saw a major turning point" means the Chief Executive has explained to Le Figaro in an interview the group's strategic direction. Meanwhile, technology stocks, widely acclaimed yesterday, should still be viewed on Thursday. The record results from Intel, the giant high-tech, support the entire sector in the world.

The Director General of the transatlantic exchange operator NYSE Euronext (-0.96% to 26.78 euros), Duncan Niederauer, on Wednesday defended its proposed merger with Deutsche Börse, the finding most relevant to the strategic plan as a redemption the Nasdaq and the ICE documentation of decommissioning.

After-hours trading, we take note of the quarterly results from Michelin, Boiron and BioMérieux.

The negotiations have accelerated over the past week between Jean-Bernard Levy, CEO of Vivendi, and its counterpart Vittorio Colao, CEO Vodafone. The two sides finally reached an agreement Sunday to 7.75 billion euros plus the payment of a dividend of 200 million euros in the first half, Vivendi puts his hand on the 44% stake in SFR it does not already own. The transaction is expected to close in late June 2011. This sum values ​​SFR to 17.6 billion euros, or 6.2 times its EBITDA. A valuation standards-compliant transactions in the telecom sector.

With this transaction, Vivendi finally control the entire second French telecom operator who weighs 12.5 billion euros in sales and has 21 million mobile customers and 5,000,000 fixed customers."For the first time since the creation of SFR in 1987 by Generale des Eaux (Vivendi ancestor) that the second French operator has a single shareholder," said Jean-Bernard Levy, CEO of Vivendi. However, SFR and Vodafone will retain preferential trade agreements for three years. These agreements relate to roaming subscribers of SFR in France and beyond those of Vodafone when they travel to France. The agreement also covers joint management of major international clients. "Now more SFR may be present outside of France and develop new services for its customers," said Jean-Bernard Levy. However, Vodafone will not be the operator of Vivendi's holdings abroad as Morocco Telecom and GVT in Brazil. For these operations, "Vivendi will retain management," said Jean-Bernard Lévy

SFR occupies an important place in the Vivendi group.During the years of crisis in 2002 when the group collapsed under 32 billion euros of debt, he found his salvation by acquiring a majority stake in SFR from British Telecom for 4 billion euros. Thus, Vivendi could access the cash flow of its telephone subsidiary, which enabled him to honor the payment of its debt. SFR, Morocco Telecom and GVT, Vivendi telephony is clearly becoming a telecoms group. Its media activities: Canal +, Universal Music and Activision Blizzard are now a minority. However, the group intends to use the cash from SFR to strengthen it.

"Last but not negligible for Vivendi shareholders, this transaction will increase our annual profits, which allow us to increase the dividend for 2012," promises Jean-Bernard Levy. The current dividend is 1.40 euro.

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The festival will she wasted Friday, scheduled for the Commercialization of the iPad 2 in 25 countries, including France? It is likely that the shelf is available in limited quantities. "We do not comment on rumors or speculation," says the firm at the apple, which states that the sale of its Internet Tablet in Japan will be delayed. Research firm iSuppli IHS is more worried: "The consequence of the earthquake in Japan may pose logistical problems and disruptions in the supply chain of the iPad 2."

Since its launch on March 11, success is such that the iPad two runs out. 0.5 to 1 million units were purchased, according to experts. Sales that underpin the world leader in this market to Apple, after the sale of 14.79 million in the first iPad 2010.Now, the Cupertino company will face "a lack of components produced in the devastated region, which includes the" electronic compass AKM Semiconductor, very difficult to replace the battery and, probably, advanced technology glass screen produced by Asahi, "says IHS iSuppli. Memory chips, supplied by Toshiba, can be replaced by those from South Korea's Samsung and Micron Technology of the U savings account payday advance.S.. However, despite the label "Made in China" battery, IHS iSuppli notes that its components are made by Apple in Japan, which buys Archipelago, due to the special shape of the battery polymer lithium-ion batteries.

Zero stock

Even if the iPad 2 is assembled in the land of factories, in Shenzhen, the Taiwanese Foxconn group, Apple claimed at its suppliers 'best practices' which include a "lean production with zero inventory", invented by Toyota.These difficulties are likely to affect the iPhone. Sony Ericsson mobile world number six, said that its smartphones could be in short supply. The handheld gaming Nintendo 3DS relief could also be lacking. "Japan will have an impact for all groups of consumer electronics," said Friday Crohas, CEO of Archos.

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The CAC 40, which won in the 4000 points on Monday night, amid record oil prices and gasoline, returns to form on Tuesday: the index 0.32% to 4003.19 wins points in early trade. The DAX index of the Frankfurt Stock Exchange opened, it, up from 0.69% to 7211.06 points while the Footise London gained 0.31% over the closing Monday at 5,992.30 points .

Last night, Wall Street has yet suffered during the black gold but this morning, Asian stock markets have evolved around the equilibrium. Tensions in the oil market will settle down when in fact that Nigeria, Kuwait and the UAE will increase their oil production by April to offset higher prices that now exists as Libya comes into civil war with an additional 300,000 barrels per day, according to the Financial Times.This morning, oil prices let loose ground: in the electronic exchange of the night, a barrel of light sweet crude for April delivery yielded 1.41% to 103.95 dollars. That of Brent North Sea fell from 1.16% to 113.71 dollars.

French growth of 0.8% in first quarter

Side macroeconomic figures on Tuesday to watch: Bank of France said Tuesday forecast growth of 0.8% of gross domestic product (GDP) of France in the first quarter of this year in its monthly business survey. The survey on business climate shows a continued growth of industrial activity in February, but at a slower pace than in January, the indicator remained stable 110. The business climate indicator in services has increased in parallel from one point to 102.

Moreover, the trade deficit widened from France in January, to 5 fast payday loan no faxing.89 billion euros against 5.60 billion the previous month, seasonally adjusted data, the Customs said Tuesday.

In Germany, it will follow at noon, industrial orders in January (Destatis). No statistics are expected this afternoon from the United States.

Scor: net profit up 13%

At the Paris Stock Exchange on Tuesday morning, Michelin took the top ranking (1.99% to 58.89 euros) the Cac 40, followed by Accor (1.25%) and Axa (+1.18% ). Red side, Alcatel Lucent was down 0.15%, 0.06% of Capgemini and GDF Suez of 0.02%.

The SBF, Scor (1.78% to 21.43 euros) stands out. The reinsurer recorded in 2010 net profit up 13% to 418.0 million euros, above expectations, thanks to a surge in financial products, according to a statement released Tuesday.It is also in talks to buy the U.S. Transamerica Reinsurance, a subsidiary of its Dutch rival Aegon, reports Bloomberg.

Air France-KLM (-0.34% to 11.60 euros) reported on Tuesday morning traffic on a February increase of 4.9% capacity increase of 5.1% annual rate . This brings "a quasi-stable load factor to 77.6%," says the airline in a statement. Passenger numbers rose 5.7% to 58.1 million.

Side values, the oil services group Technip (-1.28% to 70.72 euros) has signed a contract worth around 45 million euros for the Gjoa Field Development in the Norwegian North Sea, he said Tuesday in a statement.

To be continued this evening, after-hours trading, the 2010 earnings of Havas and BioMérieux.

The big French companies have practically recovered their health dazzling pre-crisis! The combined profits of the forty groups of ACC and reached 82.15 billion euros (1), up 83.5% over 2009! "These results are good, although still lower than 15% for those records in 2007," said Pierre Sabatier, in PrimeView. Sales of these major groups have rebounded, approaching their pre-crisis. Golablement, the 40 stars of the Paris stock exchange recorded a turnover of EUR 1.26974 trillion, up nearly 7% over 2009. Companies have restructured and reduced their debts much since the crisis began."They benefited in 2010 of an enabling environment, financing conditions very favorable from a raw material prices relatively low and a recovery in global growth driven by emerging countries," Pierre Sabatier analysis.

Click on the thumbnail to enlarge the graphic.

The year 2010 was marked by a return to better fortunes of banks and insurance companies, but auto manufacturers. Other companies have also created surprise. "About half of large listed announced results that exceeded analysts' expectations, however high," says Claudia and Panseri at Societe Generale.If the telecom industry or certain values (Vallourec) were somewhat disappointed analysts, pharmaceutical (Sanofi-Aventis), the consumer goods sector (Danone, Essilor, L'Oréal), luxury and technology companies (Alcatel ) did better than expected. "For some groups, it is merely a technical rebound. But others have found, or exceeded their profits before the crisis. This is the case of the automobile (Renault, Peugeot), steel, construction (Saint-Gobain, Lafarge) or luxury (LVMH, PPR), "said Christian Parisot at Aurel BGC.

Companies will be pampered and invigorated their shareholders by donating about 40 billion euros in dividends. "The crisis of the past, but has left its mark. Businesses remain cautious and even if they have a lot of cash, they invest little for the moment, "said Pierre Sabatier.Especially since the year looks a bit more complicated than 2010. Certainly, the consensus of analysts expects an increase of 11% of the results of the ACC in 2011.

"Sectoral Differences"

But these forecasts are somewhat compromised by the soaring prices of raw materials and oil, which if continued could weigh on consumer spending. "For now, we're not too worried because global growth is buoyant, particularly in the United States. This should allow companies to increase their turnover and profits, "said Claudia Panseri. "But if at the end of the second quarter, oil prices remain too high, companies could face new difficulties," she nuance. For some economists, margins, now at their highest, might suffer. Corporate profits should be less homogeneous."There will be more pronounced sectoral differences. Companies that can raise their prices to cope with rising commodity prices should fare better than others, "suggests Christian Parisot.

(1) These results were calculated using for EADS, Alstom and Pernod Ricard, the earnings estimates of analysts.

The champions of profitability are in the health and luxury

Health, luxury and drink: this is the ranking of the most profitable of the CAC 40. With a net margin of over 17%, the pharmaceutical group Sanofi-Aventis is by far the head of the most profitable companies in the benchmark index of the Paris Bourse. Despite competition from low-cost generic products, the blockbuster drugs that markets the group remains a fantastic source of profit, even if it tends to decrease from year to year.That's why Sanofi-Aventis accelerates acquisitions in the biotechnology sector. Activities located far upstream of the research cycle that will not suffer competition from laboratories specializing in the exploitation of patents has fallen into the public domain. It responds to this concern that the takeover bid of 20.4 billion currently on American society Genzime.

"The other champions of profitability are all protected by strong brands and recognized internationally, said Pierre-Yves Gauthier, strategist of financial analysis firm AphaValue.The strength of the brand is even considered an asset, it is a guarantee of high profitability and sustainability of future earnings. "There is nothing surprising in these conditions to see in the list of the groups with the most comfortable margins of LVMH, the world leader in luxury, L'Oreal, which remains a true superstar on the cosmetics market, but Pernod Ricard, which has to focus on the segment of premium spirits. These are sectors that benefit from the excellent image of France abroad.

Technological advance

"The common point of companies like LVMH, L'Oreal and Pernod Ricard, is that their high level of profitability does not only depend on their ability to protect their margins. It also relies on the strong business growth in emerging countries but also in the U.S., where business goes.That's what investors look primarily, "said Francois Mallet, head of research at Kepler Capital Market Action. In another area, Essilor International shows very strong margins (12% on net income) based on its technological lead in glasses.

Largest provider of benefits of CAC 40 with 10.5 billion euros in profits in 2010, Total is not the group's most profitable CAC 40 in terms of profit margin. It appears, however, among the "oil majors" the better off the Old Continent, far ahead of the British giant Anglo BP or Royal Dutch Shell. With 7.48 billion euros in net profit in 2010, BNP Paribas ranks among the most profitable banks in Europe. The first French bank has cleared the crisis, since the record profits achieved in 2007 is outdated.

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U.S. stock markets, which were closed Monday for the "Martin Luther King Day," opened slightly lower Monday. The Dow Jones lost 0.07% and the Nasdaq was down 0.38%.

Friday Wall Street soared to new highs led by banking stocks in particular after the good results from JPMorgan Chase.

On the foreign exchange market, the euro rose and traded around 1.3399 against 1.3294 dollars around 11:00 Monday night, supported by the prospect of the establishment of a European global financial solidarity.

On the macroeconomic front, the rise in industrial activity in the New York region accelerated in January, according to the index "Empire State" which climbed to 11.9 against 9.9 in December.

Apple: Wall Street waits for news of Steve Jobs

The side of values, investors should have their eyes on the Apple way.Steve Jobs, who is 55 years, announced Monday a new sick leave, while U.S. markets were closed without giving a likely date of return, contrary to what had happened during his previous arrest. This is the second in two years – he had been away for six months in January 2009 for a liver transplant – and the third since 2004.

After the close of Wall Street, Apple should announce its quarterly results. For the first fiscal quarter ended in late December, Wall Street expects a turnover increase of over 50% and over 24 billion, driven by sales associated with Christmas and New year. Analysts also expect earnings per share of $ 5.40.

This week on Wall Street will be shortened in fact marked by the publication of numerous corporate earnings.For this new burst technology and financial sectors will take the spotlight. Indeed, besides Apple, Citigroup, Western Digital must publish their accounts today. Ebay, Bank of New York, Goldman Sachs, State Street and Wells Fargo tomorrow. AMD, Rockwell Collins will continue the ball Thursday and Bank of Ameriac, General Electric and Schulmberger Friday.

In banking, Goldman Sachs announced Monday that it excluded the U.S. private equity fundraising on Facebook.Several elements of the financial group had been disclosed by the press in recent days cash advance america.

For its part, Boeing has announced that its future long-haul 787 Dreamliner had resumed flights to obtain the approval of regulators in the United States.

Moreover, according to the Wall Street Journal, U.S. authorities are about to give the green light to the sale of NBC Universal, a subsidiary of General Electric and Vivendi, the cable operator Comcast.

Also note, the U.S. Treasury announced Friday that the Federal Government had increased its share in the capital of the insurer AIG to 92%, and planned to leave the group over time, "in depending on market conditions. "Symbol of the financial excesses that led to the crisis, AIG was saved from bankruptcy in September 2008 with a loan from the central bank, which had to be supplemented by other government interventions in the following months. The stabilization of the group has mobilized a total of nearly $ 180 billion of public funds. According to what was expected, AIG paid the $ 47 billion it owed to the central bank, said the Treasury.

Always on the side of values, the British giant BP, also listed on Wall Street and the Russian company Rosneft have signed an unprecedented agreement for the exploitation of oil in the Arctic, described as "historic" by both partners.This strategic alliance, announced Friday night, can be considered the first real good news for BP since the explosion in April of the platform Deepwater Horizon and the oil spill in the Gulf of Mexico, whose consequences have a time threatened its survival.

Also note, Rupert Murdoch would like to redeem his group News Corp's British production company Shine Group, founded by his daughter Elizabeth, to enable the latter to join the leadership of the media giant, said this weekend the Wall Street Journal .

Moreover, the CEO of Hewlett-Packard (HP) is finalizing a strategic plan for the world's number one computer, planning to put more emphasis on more profitable activities of the group, including software, reported Friday Wall Street Journal.

Fimalac wants afford Accor Casinos. Accor, which still holds 49% share of Casino Lucien Barriere, came under discussion with the holding company Fimalac, announced the holding company and the giant hotel, confirming information Wansquare. "If the talks succeed, Fimalac inform the market with a new release," said the holding company of French businessman Marc Ladreit de Lacharriere.

Neither group has characterized these negotiations exclusive.

Accor thus remained in the process, begun there On several months of separating from its casinos Lucien Barriere. Last October, there was talk that the casino operator is introduced in Exchange, but Accor has canceled the operation less than 48 hours before the first quotations. Explanation: The lack of investor interest.The number one casino in France, also owns luxury hotels like Le Fouquet's in Paris, would indeed have been valued below the proposed price range (from 575 to 702,000,000 euros), which was too little for Accor.

Following this failure, the casino operator did not document-Accor maintained that all options were "reopened", including finding investors. However, management prefers Barrier IPO (IPO). This could suggest a new attempt in 2011.

A price around 550 million euros

According to our information, "it would seem reasonable that it is fastened below the price the IPO at around 550 million euros." Even if the purchase price is modest for Accor, "is clearly positive in terms of perception management," said one trader in Paris.

Fimalac, which include 60% owner of the rating agency Fitch, could then finance the acquisition entirely on equity, because it currently has net cash of 261 million euros.

In the 2009/2010 financial year ended September 30, Fimalac has reported a net profit of 30 million euros (+36.4%) for a turnover of 608.9 million euros ( +8.8%).

The group recently acquired the company Vega, French leader operating rooms dedicated to entertainment, sports and events and economic events. The company has notably orchestrated the return of Michel Polnareff in 2007 and is particularly associated with the operation of the Zenith of Rouen. He also holds 40% of Gilbert Coullier Productions, the leading French organization of shows for singers and comedians speaking.

Nothing works for casinos

The casino market has suffered tremendously, both from an economic crisis that has sealed the "entertainment budget" of the French and regulations become more stringent over time.

BP's woes are not finished. For the first time since the oil disaster which claimed 11 lives, the United States initiates legal proceedings to demand financial compensation to British oil giant.

In its complaint, the U.S. government also accuses BP, Transocean, Anadarko Petroleum, a subsidiary of the Japanese Mitsui MOEX and the insurer of BP, Lloyds of London, of violations of U.S. laws on the environment.

The Obama administration is joining dozens of individual complaints consolidated in federal court in New Orleans to form complaints partnership with several U.S. states. By joining these complaints, the Justice Department could play a major role in the legal steps of these procedures, including the presentation of key witnesses.

Other lawsuits are expected

The Wall Street Journal, these measures are only the first of a "burst" of lawsuits when the government and the companies involved are seeking responsible for oil spill caused by the explosion of the platform the Deepwater Horizon April 20 no fax payday advances. Last June, Barack Obama himself had promised to pay damages to the oil disaster at BP.

The explosion of the oil platform was subsequently claimed his place as CEO of BP's Tony Hayward on behalf of Bob Dudley. It was alleged that the former head of British oil giant's mismanagement of the crisis situation experienced by BP and especially his gaffes. Examples: "The Gulf of Mexico is a very big ocean.The amount of oil and dispersant that we put is tiny compared to the total volume of water "or" I think the environmental impact of this disaster will probably be very, very modest and finally "We are sorry for the disruption this has caused in their lives. Nobody wants more than me that it ends. I would get my life back. "

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The European Commission slap on the fingers of poor performers in the euro area. It was shown Monday more pessimistic than some governments, starting with Portugal, Spain and France, on their ability to reduce their public deficits next year.

In its latest economic forecast, Brussels believes that Portugal's public deficit will be reduced to 4.9% of GDP next year, after 7.3% this year. It's better than its forecast of spring (7.9% for 2011), but higher than the 4.6% deficit anticipated in the budget proposal of the Portuguese government.

The same goes for Spain: Brussels believes that the deficit will fall to 6.4% of GDP next year after 9.3% this year against a previous forecast for 2011 of 8.8%.But the Spanish socialist government hopes to fall to 6%.

Markets still volatile

Late Monday morning, the cost of insurance (CDS) on debt soared Spanish and Portuguese, respectively 350 and 25 points from 43 points to 545 according to data from Markit. "It seems that the aid package to Ireland was not calmed the fears of the market," said Gavan Nolan, head of research at Markit.

The Commission expressed concern Monday of the current market environment. "The financial market situation remains worrying, with possible new tensions, as recently evidenced by the resurgence of tensions in the markets for sovereign debt," she noted in a statement.This could indeed hamper growth in the eurozone, as Brussels hopes to see again accelerate to 1.8% in 2012 after a slowdown late 2010 (when growth is expected to reach 1.7% final) and 2011 (1 , 5%).

France too optimistic

Brussels has also questioned Monday the forecast deficits of the less covered by today's markets. This is particularly the case in France.Brussels believes that the second economy in the euro area is expected to reduce its deficit next year to 6.3% of GDP against 7.7% this year, when Prime Minister Francois Fillon pledged last week to back down to 6 % from 2011.

"The turmoil in financial markets underscore the need for strong policy action" to reduce the deficit, said the Economic Affairs Commissioner Olli Rehn said in the statement.

The austerity programs implemented in many countries still start to bear fruit. The Commission estimates that the average public deficit of the entire euro zone should fall faster than expected next year to 4.6% of GDP after 6.3% this year. In its spring forecast, yet it expected a deficit of 6.1% next year after 6.6% this year.

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The Irish international aid will pay a high price. The Irish government this Wednesday afternoon an austerity plan of 15 billion euros. A sine qua non for the grant aid of 85 billion euros from the European Union and the International Monetary Fund (IMF). The austerity plan spread over four years. But 40% of the effort will focus on 2011.

The austerity plan, which will last four years, will constitute two thirds of budget cuts (15 billion euros) and third (5 billion) of higher taxation. VAT will be increased from 21% to 22% by 2013 and to 23% in 2014. What raise 620 million euros, has detailed the government. On the other hand the number of taxpayers subject to income tax increase.

No question, however, touch the corporate tax of 12.5%, key competitive advantage of the Celtic Tiger."This plan reaffirms the commitment of government to maintain a 12.5% corporate tax rate. It is a cornerstone of our economic policy on the free tour company, reaffirmed by the various governments that have succeeded, "says the document released to the press.

7 billion in budget cuts

On the expenditure side, 7 billion in cuts will be completed by 2014 instant payday loan lenders. It's about reducing the deficit by 32% in 2010 to 9.1% in 2011 and 7% in 2012 and 5.5% in 2013. Ultimately, the difference between government spending and revenues should be limited to 2.8% in 2014, slightly below the European obligations.

Furthermore, social spending and health will be reduced by 2.8 and 1.4 billion euros over four years. The minimum wage will, confirmed the government reduced by one euro to 7.65 euro.

In the public sector payroll will be reduced by 1.2 billion euros by 2014. The salaries of new staff receive a salary lower than 10% compared to those already in place.

"The objectives of this plan are demanding but realistic," says the text of 160 pages detailing the austerity plan distributed to the press, who also believes that "this plan will generate confidence in the country and outside." Among economic assumptions supporting the plan, Dublin expects a growth of 2.75% per annum between 2011 and 2014.

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