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At a silver lining. The great blunder of the rating agency S & P issued Thursday to its subscribers in error message suggesting that the note of France was degraded allowed to know the exact impact would have been the suppression agencies rating of the famous "AAA" from France. This information has been totally denied by the U.S. agency Standard & Poor's and the Financial Markets Authority (AMF) has launched an investigation, but the damage was done.

As such, it must be remembered that the S & P is not his first "mistake". In early August, when the deterioration in the rating of the United States, the agency had already deceived 2,000 billion in the calculation of the federal debt.

This lack of reliability of the agency does not affect the market reaction.Thursday, shortly after the dissemination of this false information to 3:57 p.m., the French rate on loans to ten years amounted to 3.46%, bringing the pay gap with German bonds of similar duration to a record 166 points percentage not seen since the creation of the euro.

Everyone to understand that France will soon be degraded

This Friday, at the opening transaction, rates eased around 3.36%, but markets have learned their lesson. In exchange, everyone understood that in case of deterioration in the rating of France, synonymous with loss of the "triple A", the rates of government bonds with ten years showed 3.46%, or 3 , 5%. This would mean that in this case, France would borrow twice from Germany!

The shock is harsh, but it is ultimately not so dramatic as that. A 3.46 or 3.5% borrowing conditions in France remain reasonable.

Everything is planned for the next five years. Even the price performance has been limited, rising 0.9% yesterday afternoon in the U.S., despite the death of the Wizard of Apple. Steve Jobs had prepared his succession to the millimeter. Six weeks ago, he had entrusted the keys of the company to Tim Cook, his loyal second, which made the group very profitable. He even left a road map for future innovations. "I think the list of products is stopped for three to five years ahead," said Pierre Peladeau, vice president of consulting firm Booz & Co.

The iPhone is growing at a second screen and payment functions, to become a real game console and an electronic purse. Most importantly, Apple will continue in his way, his real trademark, oversimplify the use of machines which become, therefore, luxury goods, high-margin.The speech recognition system "Siri", presented this week for the iPhone 4S by Tim Cook, should get on Macintosh computers and iPods the most advanced. Recognition of movements and even that of the user, as is the case for the Microsoft Xbox 360, should be to integrate other functions in future products. Shelves, computers and phones all have a camera that could be used to identify its owner.

"The strategy of" multiple monitors "will continue", provides an employee cash advance no faxing. After the computer and the telephone, television and its contents will be the next land to conquer. All television programs around the world could be available on future Apple-branded TVs, thanks to icloud, the system of cloud computing.As was the case for music, applications, newspapers and books, television programs are distributed by Apple. The company would then play a role of reseller and could strengthen in the business of advertising.

Demanding

The road map is drawn, the organization and working methods are arrested, men of valor are in place, including "designer" Jonathan Ive, and the director of marketing Phil Schiller, who "knows so intimately the competitive products, "said Carolina Milanesi of Gartner. In addition, "Tim Cook is as demanding as Steve," provide the employees of Apple. It has the same attention to detail and perfection "that are hallmarks of the group." But without Apple embodied the soul of Steve Jobs, the group may he continue to impose its laws to the content owners? It is not safe.In addition, the future is not written competitors, especially Google's married to Motorola. These competing strategies could encourage Apple to change the line to follow. The future would become uncertain.

In this eventful weekend, the CAC 40 is expected to rebound on Friday. The benchmark index of the Paris Stock Exchange is expected up 1.5% as planned, after a tumble 5.25% on Thursday at 2781.68 points. Mobilization and call for unity of the G20 (which is to meet at 14 am today) should reassure markets. While Friday morning, Asian stock markets were still sharply lower.

To deal with the stock market crash, the finance ministers and central bankers of the twenty first world economies have pledged to provide "a strong and coordinated international response" to the crisis at a meeting in Washington. In a joint statement, they agreed to ensure that "banks have adequate capital," after the plunge in recent days of European banking stocks, undermined by fears of debt crisis in the euro area .In fire, central banks have promised to make "the necessary liquidity" to financial institutions.

In addition, large emerging group of Brics Thursday said they were "determined to accelerate structural reforms to sustain strong growth" in a joint statement after a meeting in Washington.Brazil, Russia, India, China and South Africa are therefore considering "if necessary, to provide support through the IMF or other international financial institutions, to address the current challenges to the stability financial crisis, according to the circumstances of each country. "

Meanwhile, in response to a request by the G20 in September addressed to Nicolas Sarkozy, the euro zone countries have pledged to implement "necessary measures to increase the flexibility of the European Financial Stability Fund (EFSF)" to prevent contagion from the crisis in Greece. Yesterday, the possibility of a defect in Athens, though long ruled by EU leaders, was raised by Klaas Knot, Member of the Board of Governors of the European Central Bank (ECB). "This is one of the scenarios," he told the Dutch newspaper Het Financieele Dagblad.He added having "long been convinced that the collapse was not inevitable. But the news from Athens, at times, are not encouraging. "

The specter of a recession is not écartéToutefois, the specter of a global recession has not yet ruled out after the ads pessimistic U.S. Federal Reserve (Fed), which held that the U.S. economic recovery was "slow "and threatened by" high risk ". Wednesday she has decided to sell by the end of June 2012 for $ 400 billion of treasury bills and to purchase for the same amount with a longer maturity paperless payday loans. But the fact that it favors measures to monetary easing, a depressed market on Thursday, who sees as a sign of impotence.

On the macroeconomic front, France, the monthly business survey by INSEE household, industrial, construction, retail trade, car repairs and services for the month of September include expected. And the index of business climate and economic downturn for the same period.

On the foreign exchange market, the euro appears in small increase compared to the U.S. dollar: it rose on Friday morning from 0.42% to 1.351 dollar. Oil prices also went up, investors sniffing deals after the significant losses suffered by the crude in recent days.Within the scope of a tumble of more than $ 5 Thursday, a barrel of "light sweet crude" for delivery in November clinching 53 cents in early electronic trading at 81.04 dollars, a barrel of Brent North Sea crude for November delivery gained 71 cents to 106.20 dollars. "Oil rises due to bargain hunting and redemptions of coverage after several sessions of decline," said Ker Chung Yang, analyst at commodity Phillip Futures in Singapore.

Values ​​to follow

• Banks

The European Banking Authority (EBA) said Thursday there were no plans to force a number of European banks to raise capital more quickly than expected and that the original schedule established at the time of stress tests was valid.According to information published by the Financial Times, European leaders would be willing to accelerate plans to recapitalize banks 16 which narrowly failed to stress test this summer.

• GDF-Suez

There will be no increase in gas prices for individuals to October 1 but enterprises will experience a rate increase of 4.9%, announced Thursday a spokesman for the French Ministry of Industry and the Energy.

• EADS

Airbus, a subsidiary of the European giant, is ready to help customers who are in need of funding due to the debt crisis in Europe and expects a good year in 2011 despite the crisis, said its president Thomas Enders in our columns.

• Groupama

Under the threat of lowering its rating by Standard & Poor's, the company says it wants to save 300 million euros over 2012-2013, we read in Les Echos.

• Technicolor

The group said confirming its forecast for fiscal 2011 the group announced Thursday night, after falling nearly 15% of its share price. It also confirms the intention of France Telecom to give up his development project with a group of next-generation decoder.

After a third round of chained up on Thursday, the CAC 40 is hesitant. In this Friday called "the four witches' mature futures in the U.S., which always increases volatility.

After opening up 1.21%, the benchmark index of the Paris Bourse is pressed into the red in the morning before showing a slight increase of 0.54% to 3062.14 points. Sign that markets are not completely reassured by the decision of the central bankers of the richest countries to mobilize to prevent the drying up of banks' liquidity in dollars. "There is no particular news. The market is perhaps a little profit after rising in recent days, "says Dov Adjedj, vendor shares at Aurel BGC.

In turn, other European financial centers are currently in the green: the Footsie-100 from the London Stock Exchange rose 0.84% ​​to 5382.27 points, the Dax in Frankfurt in 5570 to 1.14% , 82 points, but the Madrid Ibex-35 yields 0.17% at 8323.7 points while the FTSE Milan Mib rose 0.82% to 14,763.22 points.

Thursday night, the European Central Bank (ECB), the U.S. Federal Reserve, the Bank of England, Swiss National Bank and the Bank of Japan reopened their facilities dollar loans to European institutions to three months, at their request . The decision was hailed by leading international institutions including the IMF, through its President Christine Lagarde: "This is a clear indication from the two largest euro area members of a economic point of view that Future of Greece is truly in the euro area.This appears to be strongly rooted in them both, "she said Thursday, referring to the Franco-German tandem. The same applies to the ECB: "We are all very closely 'united in one purpose,'" said Thursday Jean-Claude Trichet, president of the ECB.

A meeting of finance ministers in Poland

Still, brokers are concerned that this improvement was not part of the time. "The coordinated central bank takes the market on Friday," noted Toshiyuki Kanayama, broker at Monex, quoted by Dow Jones Newswires. But this does not solve the problem of the euro area should have a temporary effect. "And for him to echo, the Austrian Minister of Finance, Maria Fekter, has not ruled on Friday that a failure of Greece is a better alternative to a bailout too expensive."We should consider this alternative," she started.

Suddenly, all eyes have turned to Wroclaw in Poland, where there is a meeting of EU finance ministers on Greece. It should last two days and overcome the remaining obstacles to the implementation of the second aid plan in Athens decided July 21 to avoid a bankruptcy of the country. Note that Timothy Geithneir, the U.S. Treasury Secretary, will attend the round table. Two press conferences are scheduled this Friday at 24:00 and 17:30.

On the foreign exchange market, the euro bought 1.3798 dollars, down 0.61%. Similarly, oil prices down slightly popped, a barrel of "light sweet crude" earned 5 cents to 89.33 dollars."This liquidity will likely prevent the recession to hit the euro area, supporting crude oil prices," said Victoire Shum, an analyst at Purvin and Gertz in Singapore.

On the macroeconomic front, the euro area recorded an external trade surplus 4.3 billion euros in July against 4.7 billion a year earlier, according to first estimates released Friday by the EU statistics office Eurostat .

In France, business start-ups in France rebounded in August after two months of decline. A total of 41,697 companies were created last month, according to Insee, a figure up 7.5% from July, which was the worst month for a year and a half.

In Germany, German Chancellor Angela Merkel said today that German GDP growth would be "closer to 3% than 2.5%" this year.This statement comes as concerns about the impact of cooling of the global economy on the German economy, heavily dependent on exports, are more vivid.

United States, the net capital flows and the index of consumer confidence from the University of Michigan will be published early in the afternoon.

Values ​​to follow

Banking

After the decision by central banks to help European banks, the banks were moving in a disorganized mid-session: Societe Generale (2.40% to 18.77 euros), Credit Agricole (-0.05% to 5 , 52 euros) and BNP Paribas (-1.61% to 30.01 euros)

Air France-KLM (1.39% to 6.14 euros) and EADS (-0.88 to 22.06 euros)

The manufacturer will control 50 devices equally between European manufacturers Airbus and Boeing, for a total of $ 11.3 billion (8.1 billion euros) to ensure the renewal of its fleet, say Les Echos to be published Friday.

Hermes (-7.10% to 249.25 euros)

Resumption of trading on Friday for the title of the luxury group, which was suspended the day pending the decision of the Court of Appeal in Paris on speculation about the fate of its capital due to a possible takeover bid by LVMH.

Areva (-1.62% to 20.66 euros)

The group has suspended two months for the production of two French factories processing of uranium due to the decline in demand for nuclear power plants in Japan after the disaster in Fukushima, officials said Thursday from the French nuclear group.

EDF (3.34% to 21.33 euros)

Group and Electrical Delmi A2A and its majority shareholder, who jointly control Edison, announced the extension of their shareholder agreement until October 31 at number two in the Italian electricity.

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The Paris Bourse tries to back up the hill on Tuesday. The CAC 40, which began the day at the balance (-0.04% to 2998.29 points) climbed 0.73% in mid-session at 3021.58 points. Technical rebound but it did not last and one hour before the opening of Wall Street, the market revives loss: -0.75% to 2977.06 points. Moreover, stock markets are all in red with the exception of London (0.31%) and Zurich (3.70%). But the DAX in Frankfurt still loose 0.46% and 2.20% Milan.

Investors can not really come to their senses after the blow of yesterday who did fall by 4.73%, under 3000 points.The problems of sovereign debt, which resulted in all European markets falling and are still strongly back the Asian markets this morning, are at the heart of investor concerns.

Greece again centralizes all fears since the country's authorities and inspectors of the European Union, the International Monetary Fund and the European Central Bank, have suspended talks to ten days. The two parties disagree on the reasons and extent of delays by Athens in reducing its budget deficit. This situation endangers the second rescue plan concocted by the European Union. Some analysts believe even now that the plan was stillborn."Greece has already slipped over new deficit targets," said Bruno Cavalier, as well, an economist at Oddo Securities.

Nervousness is also high, whereas the German Constitutional Court will make its decision Wednesday on the highly anticipated aid granted by Greece to Berlin and the establishment of a European emergency fund. Germany is the main creditor of Greece in the eurozone.

"It's a stampede"

Also in the issue of debt in the euro zone, Italy is suffering from a new crisis of confidence while accumulating doubts on its ability to curb its deficit despite the adoption of an austerity plan this summer.Finally, union sources said yesterday that the Spanish Prime Minister Jose Luis Rodriguez Zapatero had recognized mid-August, the markets in crisis, that Spain was close to a "rescue" needed.

"It's the stampede, the free fall. Trust is the innermost and nobody does anything to reassure, "commented Xavier Villepion, sales of shares in Global Equities. "Investors have no reason now to invest in the equity markets," he says. "We are in a dynamic market similar to that of the fall of 2008, when prevailing psychosis triggered by the subprime crisis," said Patrick Jacq, bond strategist at BNP Paribas."Everybody goes in the same direction and fled to the German long-term bonds," he said.

"No recession in the U.S."

These problems of sovereign debt in addition to fears of a global recession while the health of U.S. economic worries. In this regard, World Bank President Robert Zoellick said on Tuesday that the United States was not threatened by a return to recession. "I do not think the United States and the world will fall into recession," he said.

The ISM "non-manufacturing" rose for the first time since May, 0.6 percentage points from July, reaching 53.3%, while the median forecast of analysts gave the down at 51.0%.

The European currency the euro was trying to rebound against the dollar on Tuesday, however briefly climbed back above the $ 1 cash advance loan.42 threshold.Eurostat also confirmed its first estimate of GDP growth in the euro area. It increased by only 0.2% from April to June after 0.8% in the first quarter.

The famous German ten-year Bund collects all the favor of investors and its yield, which moves in the opposite direction from price, fell to below 2%, unheard of.

Values ​​to follow

The bank still in the red

Bank stocks remained misguided in Paris and did not benefit from the rebound. BNP Paribas lost 0.91% to 31.02 euros, Crédit Agricole 1.83% to 5.74 euros, Natixis 0.51% to 2.55 euros and Societe Generale 0.64% to 20.12 euros.Some values ​​are more dependent on market conditions, however, fell under the head, the image of ArcelorMittal, which gained 1.84% in mid-session at 13.32 euros.

Audika: + 5.86% to 16.99 euros

The group released a net profit up 17.2% to 4.8 million in the first half, Audika has benefited from financial instruments, whose contribution represents about 400,000 euros.

Medica: + 4.51% to 12.74 euros

Medica said it had seven times its first-half profits to 20.7 million euros and raised its annual growth target of the activity of 15% to 17%.

NYSE Euronext: + 2.54% to 18.57 euros

The group announced a return to continuous trading, as of Thursday, September 8, a series of indicators of the Paris Bourse, the SBF 120, which was suspended on August 8 for technical reasons.

Casino: 0.51% to 55.56 euros

The retailer Almacenes Exito Colombia, 54.8% owned by the French group, has launched a capital increase of $ 1.4 billion (one billion) unveiled in late June.

Paris airport: + 0.52% to 55.79 euros

A consortium that includes ADP is one of the groups pre-qualified to take over the airports of Madrid and Barcelona, ​​said Monday the Spanish airport authority AENA.

Lagardère: + 2.25% to 19.73 euros

Arnaud Lagardere said the media group is considering a share buyback or payment of a dividend with the proceeds of the sale of the international magazine division.In an interview published Tuesday by the newspaper Les Echos, he also said that the withdrawal of the group of EADS will not happen until the release of the Airbus A350, the future long-haul European aircraft manufacturers.

Air France – KLM: + 3.31% to 6.14 euros

The group wants to save 700 to 800 million euros in additional savings and will also scale back its flight schedule.

GDF Suez: + 1.50% to 20.35 euros

The newspaper Les Echos, there will be no increase in gas rates for individuals on 1 October, the Regulatory Commission (CRE) does not provide a complete analysis of the tariff before the end of September.

Dry environment: -5.03% to 44.62 euros

The company said it was reviewing its goal of decreasing operating income (ROC) for 2011, it now expected around the level reached in 2010 after falling 2.7% in the first half.

During the day Tuesday, Sanofi will meet its strategy. Boiron Transgene and must publish their results for the second quarter.

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In recent weeks, a new generation of vending machines first appeared in Paris. Located near the Parc des Buttes-Chaumont, the machine offers, 24 and 24 hours seven days a week, fresh bread, sold a euro baguette. One hundred and twenty rods craft, pre-cooked for ten minutes, are placed for maximum seventy-two hours in the refrigerated dispenser. The end of the cooking is done at the pace of demand for ten more minutes. They can then be kept for more than five hours, to ensure consumers of warm bread.

The origin of this world first, as original as vending machines swimwear and sunglasses located at the entrance to the pools, is Jean-Louis Hecht.The baker was able to marry fifties vending, mainly industrial and bakery.

"Small steps slowly"

It all began in 2001 when the contractor completed the first prototype of its distributor, together with a technical school in Moselle. He suggested "small steps small steps" toward a machine patented by the company and assembly of industrial equipment Mecondielle Portuguese. The investment is huge for this baker without the cost of the assembly, the machine comes already at 30,000 euros. Then you would need two hundred and fifty hours of assembly.

The machine, the first of which is in commercial service since January in Moselle, in the other bakery owned by Jean-Louis Hecht, naturally allows to inflate sales, thanks to its opening hours."It is also a strong vehicle for promoting that is not gray at the bakery, says Jean-Louis Hecht no fax needed payday loans. On the contrary, this innovation is a service that complements the baker's trade but do not replace. "

He said it will become indispensable in France and abroad, because of the quality of the product offered and the economic viability extraordinary profits are 30% higher than the store, according to the contractor.

A solution for villages without trade

In Paris, the distributor already sells 80 sticks a day, and Jean-Louis Hecht look forward to go further. The entrepreneur wants to "make the most of" his idea and does not sell his patent. He thinks big and would like to extend it by buying several bakeries and industrial equipment, backed by the facade.

The baker has other ambitions for his vending machine.A consulting firm located in Portugal working on a version independent of any trade, which would be installed in remote locations such as villages, tourist resorts or passage.

With the unmistakable design of his machine, Jean-Louis Hecht even considering creating a string, which spread in the desert regions of all trade, to allow each person to have its traditional fresh baguette every day. He finally claims that his invention has international potential, in Europe or the United States, where consumers are fond of "French baguette."

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Overtax businesses too generous with their leaders. The idea was launched by Prime Minister Francois Fillon in an interview published Saturday in Nice Matin: "With the government, I think about a device that is to overtax the companies issuing exorbitant fees." François Fillon and takes position on an issue that divides the majority.

The head of government is responding to the proposal of Xavier Bertrand, Minister of Labour and Employment, to "tax" or "frame" the "extravagant salaries." It lampooned in an interview published Thursday by Les Echos code of conduct drawn up on the subject of big salaries. "Write a code of conduct is good. The enforcement is better, "he said. Considering that some large companies did not comply with these principles, the Minister has threatened to legislate on the issue.

Shocked by some earnings

In Nice Matin, François Fillon rejects such an approach in trying to punish companies through a tax rather than the bosses through a ceiling unsurpassable. If it says "shocked" by some remuneration of senior executives, the Prime Minister "not [believe] not the regulation of wages for some totally disconnected from economic reality of the business and wage negotiations." However, he called the companies to regulate themselves. If they do not, the government will make decisions, he added.

François Fillon's statement takes an idea Baroin. The services of the Minister of Budget are working on the issue from the perspective of the tax reform of heritage to be considered in the fall paydayloans. Baroin said he wants "an exceptional contribution on income, not an outstanding contribution."The advanced solution: drain on companies making non-deductible from corporate tax wages too high.

The salaries of officers of the CAC 40 rose 19% in 2010 compared to 2011 according to a study of the expansion. Their average salary was 4.2 million. And increases do not always correspond to performance industrial markets.

No revaluation of the minimum wage

François Fillon said in the same interview in Nice morning that there would be no boost given to the minimum wage at its next revaluation. "Today, it would be an economic mistake. This will overwrite the hierarchy of wages and would drive up labor costs and thus unemployment, "he justified.

François Fillon has argued that "before 2000, the labor cost of products manufactured in France was on average 15% cheaper than in Germany."However, "since the 35 hours, this advantage was lost in some sectors such as agriculture and services, we are overtaking Germany," he said.

According to the Ministry of Labour and Employment, the next automatic adjustment of minimum wage-price inflation when the achieved 2% since the previous revaluation, "could take place" in August.

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"The salaries of top managers rose sharply

The National Federation of Farmers' Unions (FNSEA) appealed to the government. While drought is raging in France, the farmers union asks the State to provide cash to farmers to help them cope with the shortage of grass meant to feed their animals. Fodder production, that is gathered at this time to make provisions for the winter, fell between 50 and 60% said Beulin Xavier, patron of the FNSEA. "Farmers can not wait to hit on October 16 in anticipation of EU aid, as we promised them," said union official.

Despite the "urgency", "there is no way for us to claim a tax drought as in 1976, however, said Beulin Xavier, patron of the FNSEA. This solution, which was adopted by Jacques Chirac, then prime minister, would have helped to tarnish the image of farmers."This tax has been misunderstood. We regularly pours on, "says Xavier Beulin. Its implementation in spring 2011 has anyway been rejected by the Minister of Agriculture, Bruno Le Maire and the Minister for Ecology Nathalie Kosciusko-Morizet who believes he is still "too early" to the contemplate.

Commitment of States to banks

To cope with the situation, FNSEA would, however, that the State undertakes to banks for lending rates to zero which will allow farmers to make the junction until mid-October. "We're not asking for alms," emphasizes Xavier Beulin.According to him, it is only from June to prefund the equivalent of Community aid promised for mid-October, amounting to 710 million euros.

This advance payment should allow producers to stop the "mass mailing" of animals for slaughter, whose numbers have doubled or tripled in recent days. The union says will fight together against another perverse effect of the drought: the fall in meat prices by excess supply, causing a further decline in incomes of farmers who can not pass on their price increase animal feed.

FNSEA also wishes to meet Guillaume Pepy, SNCF president, to discuss bringing straw and fodder in the coming weeks.

This call could have been heard. According to Le Journal du Dimanche, Monday, Bruno Le Maire should meet the prefects to take stock of the situation.The next day he will receive the banking, insurance and mutual funds. Then finally, producers and manufacturers. A reduction in charges and deferrals of loan repayments may be announced.

A further meeting of the "drought committee, bringing together water users (farmers, industrialists), elected officials and experts (Météo France, Bureau of Geological and Mining Research) is scheduled to meet later in mid-June.

54 departments under restriction

Measures of restrictions on water use extend in France. On its website, the Department of Ecology announced that 54 out of 96 metropolitan departments are now involved against 42 a week ago. Twenty-one are classified as level 3, that is to say, concerned by the measures the highest and four others are placed in a state of vigilance.Only the tip of Brittany, the eastern fringes of the country, the Massif Central and the Mediterranean shores to escape the time-limiting measures.

Water restrictions limit uses non-priority for individuals such as watering, washing cars or filling pools, and can also regulate agricultural irrigation.

The government announced the creation of a "watch unit" on electricity supply, while drought has reduced production of dams and the threat of nuclear plants.

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Not yet a candidate, Christine Lagarde was already the favorite to succeed Dominique Strauss-Kahn to IMF management, but two rivals have already expressed. Mexico will formally nominate Agustin Carstens, Governor of the Mexican central bank, said Sunday the Minister of Finance of Mexico. He "has the capabilities and qualifications to lead an institution of the importance of the International Monetary Fund," he said. Governor of the Bank of Mexico since January 2010, Agustin Carstens has been deputy director general of the IMF from 2003 to 2006.

Moreover, the Belgian Finance Minister, in office since 1999, Didier Reynders, said Sunday also be "of course" interested in the job. "These are functions that do not refuse," he added. But Europeans seem more a united front around the candidacy of the French Minister of Finance.This weekend, his candidacy has received the support of Germany and the United Kingdom cash till payday advance. The Congo would also like to see take the job.

In France, Martine Aubry said yesterday that the appointment of Christine Lagarde at the head of the IMF "would be a very good thing for our country and for Europe." However, Francois Bayrou is against, saying "do not approve economic policy which was followed by France" and lamenting that "Ms. Lagarde was the main actor of the case Tapie.

In a joint statement, Australia and South Africa have called Sunday a nomination on merit, not nationality.A position shared by the representative of Switzerland to the IMF.

After the resignation of IMF Managing Director, accused of attempted rape by the American courts, nominations for his successor will be officially opened on Monday, and until June 10

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