Germany, France and Italy, met Thursday in Strasbourg (east), expressed their determination to secure the future of the euro, if necessary by amending the European treaties, but without affecting the independence of the European Central Bank (ECB).

The three largest economies in the euro area are determined to "do everything to support and ensure the sustainability of the euro," said the French president told reporters at the end of the tripartite summit.

Mr."We all three indicated that respect for the independence of this institution, it was not to request positive or negative" to the ECB for its part has assured the French President.

Several French officials, including Foreign Minister Alain Juppe Thursday morning, however, have called for the ECB to play "a role" to save the euro area. This role would be to buy massive debt of the countries most vulnerable to stem the continued rise in rates on government bonds of several euro area countries, which penalizes their already fragile budgets. This rate increase, a sign of the distrust of the market against the euro area, is now affecting countries like France.

"We are all three very much aware of the seriousness of the situation," said

The government does not expand the new tax on soda beverages containing sweeteners such as the National Assembly proposes to finance the lower cost of agricultural labor, said Thursday the budget minister Valérie Pécresse. Asked by Canal + on the position of the State in this new provision added by the Finance Committee of the Assembly on Wednesday, the spokesman of the government remained unclear. "It is the wishes of the parliament, we will discuss. But it will be to finance the lower cost of agricultural labor," she was merely responding.The aim is to "enable our farmers to sell their products to the same price as Germany and Spain," said Valérie Pécresse.

For about half the tax, revised help reduce the cost of ongoing work in the agricultural sector, which suffers from a lack of competitiveness against many of its competitors such as Germany, Spain or Italy. The rest will include health insurance. Initially, this tax on soft drinks would bring 120 million euros and should not apply to beverages with artificial sweeteners.

The new tax on soft drinks has doubled and extended to beverages containing sweeteners Wednesday in the Committee on Finance of the Assembly, it should yield more than double, or 250 million euros.The surplus revenue to the state expected from the doubling must be used to finance a reduction in the cost of agricultural labor, said a UMP Amendment / New Centre approved in committee in the review of the draft budget 2012.

6.22 euros per hectolitre

Initially, the tax on soft drinks would bring 120 million euros and should not apply to beverages with artificial sweeteners. But "these drinks, which are not basic necessities, benefit from the reduced VAT rate. They must be able to handle the additional load generated by this new contribution," said Michel Diefenbacher (UMP) in a sub-amendment.

Currently, the wine is subject to VAT of 19.6%, while water and soft drinks are taxed at 5.5%.The rate of contribution of soft drinks will be increased to 6.22 euros per hectolitre will be increased from the beginning of 2013, to January 1 of each year, at a rate equal to inflation (excluding tobacco) of the preliminary last year. Sought by the AFP, the National Association of Food Industries (Ania) was not immediately available for comment Wednesday night the decision to expand the tax soda products with sweeteners. The Government will reduce in 2012 to 210 million payroll taxes on permanent farms in order to "improve competitiveness", Nicolas Sarkozy announced Tuesday.

In addition € 130 million from the tax on soft drinks, the exemption of social contributions of farmers on permanent employment will be funded by 80 million euros from a reduction of a tax on heating oil for professional use.The domestic consumption tax (TIC) of heating oil used as diesel fuel for professional use will be increased from 5.66 to 7.20 euros per hectolitre, as a New Centre-UMP amendment also passed Wednesday. Finally, the cost of a farm worker is expected to fall to one euro per hour, as repeatedly promised the Minister of Agriculture, Bruno Le Maire.

The announcement of the creation of the tax, 24 August, as part of the austerity plan Fillon, had angered the industry, outraged that the government justify this contribution in the fight against obesity. The French subsidiary Coca-Cola had even threatened to suspend an investment of 17 million euros in one of its plants, in the Bouches-du-Rhone, before turning back to the outcry from politicians.

Introduction of competition, changes in schedules, increased work on the tracks … The coming months will be decisive for the station. To cope, the railway company decided to beef up its commercial and services. And it aims to establish a "contract of confidence" with its customers. Will this work? Give us your opinion.

Map 12-30 years

The group announced the extension of the card 12-25 years, 12-30 years is a map. From September 28 until the end of the year, SNCF pushes the age of youth.The launch on the occasion of 30 years of TGV, which will be celebrated on Saturday, allowing the station to make a real test for a possible final implementation, according to information entrusted to the AFP a source close the file. Information that the station denied this time. Only 400,000 copies of this limited edition of the card will be sold to the public.

"It is through the revealing of the SNCF," said Thierry Sarnez, managing director of the association of consumer and user CLCV. "It sets up shots, which complicate even more marketing offers. A new service is created and disappears after three months. How can the user find it," he says. "This is an interesting measure. But why be limited to 400,000 copies? Is completely discriminatory.Only those who have purchased the benefit from faster "adds Michel Pottier, president of the Avuc, association of users of railway.

The station is also in the process of setting up a system of financial compensation for passengers traveling standing or sitting in the hallway when they took a TGV overbooked.

Readability prices and schedules

Some measures will be implemented to improve the readability of hours. The controllers are equipped with such smart phones, enabling them to respond more readily to customer questions. It also strengthens its offer of support for children only from 4 to 14 who will also be open on weekends plus school holidays.

In terms of prices, the railway company also announced changes. In 2012, it can freely adjust its prices according to the attendance lines.Faced with fears of an increase in these rates, the group is adamant: "The SNCF does not seek to raise prices, and believes that such a development has no place." Two concrete measures are emerging in this context: the removal of periods 'peak' and 'normal', and the establishment of a flexible schedule. "Indeed, the station will undertake to sell a certain percentage of tickets" at a price lower than the reference rate (2nd class full fare, without giving further clarification for now.

It also wants to move towards greater clarity on prices. On the back of tickets, the website or guides, minimum and maximum prices for the same journey, will be shown, so that the client has a clearer view of pricing. "We need more transparency. This is the median price must be indicated.And why not show, for example, tariffs on screens in stations, "asks Thierry Sarnez." Today, the person who wants to travel by train never know what it will pay, "laments Michael Pottier.

According to AFP, the station also plans to limit the number of different rates for the same journey. "It would be perfect. According to one of our surveys, it happens that prices are 20 for the same car. This abnormal" deplores the managing director of CLCV.

A revolution schedules

These efforts at transparency are even more pressing that the group is preparing for a revolution of his times. Over 80% of them should change. "It's an upheaval as great as the changeover to the euro," said Guillaume Pepy SNCF president at a recent seminar. And he added that "it never happened" to change so many times at once.Indeed, on average, only 30% are changed in one go.

"The SNCF has ensured, in this context forced the new organization, to provide the best possible offer to customers." provide a statement. The group intends to propose a "more robust, and limiting delays. On the TGV, it promises many places during peak hours to 9-10 hours on arrival at Paris, and from 17h in the evening , opportunities to combine its travel, the day or half day of opening hours on weekends, or an improvement of connections between TGV and TER.

SNCF jusitife this "revolution" with the launch of the Paris-Rhin-Rhone (which in turn has implications for other lines), or the multitude of planned work on the network. "There's four years of work with high-dose mile modernization projects each year," said Mr.Pepy, who had already called for "understanding and patience" of users and the "general interest".

But the schedule change also reflects the timing of development, the principle is to operate trains on the same line at regular hours. For example every hour or every two hours, the same trains serving the same stops succeed in a given station at regular time intervals. SNCF wants to spend the percentage of train subject to this requirement from 8 to 16%.

Of long distance bus station to the study

Finally, the station has not only eyes fixed on the rail. The group could in fact engage in passenger transport by bus over long distances to compete with Eurolines, which opened this summer selling his first six interregional links in France. According to Thierry Sarnez, it would be "an admission of failure.SNCF admit that its own trains are not competitive. It begins with a few bus lines … Then it can develop. "However, Mr Pepy ensure that rail remains the 'backbone' of the group."

The Dow Jones Industrial 30 yielded 2.49%, or 283.82 points at 11,124.84. The S & P-500, wider, lost 35.33 points, or 2.94%, to 1166.76.The Nasdaq Composite fell on its side of 52.05 points (-2.01%) to 2538.19.

As expected, the Fed announced it would buy Treasury bonds maturing long to bring down interest rates in the long term, but especially the phrase "significant downside risks weighing on the economic outlook" that caught the attention of market participants.

"This comment on the prospects – and I do not, moreover, why it is a surprise – was an attachment point for market participants," said Stephen Massoc, managing director at Wedbush Morgan.

The Fed will buy, by the end of June 2012, 400 billion of Treasury bonds with maturities ranging from six to 30 years.During this period, it will give an equivalent amount of bonds maturing in three years and under.

This action, to put pressure on interest rates in the long run is similar to that conducted in the 60's and so called "Operation Twist".

Stressing that economic growth would remain weak, the Federal Reserve that kept interest rates at between 0% and 0.25%, confirmed that these rates remain exceptionally low until mid-2013.

The index values ​​involving transportation, considered a measure of economic health, has plunged 5.27%.

The fund bank also sensitive to economic conditions, was also affected by the decision of Moody's downgrade of Bank of America, Wells Fargo and Citigroup on the ground that the Federal government may be reluctant to rush to the aid of large banking institutions difficulty.

The title of Bank of America fell 7.5% to 6.38 dollars, that of Wells Fargo 3.9% to 23.71 dollars and action Citigroup lost 5.2% to 25.52 dollars, the index KBW banking shares fell 5.5%.

The technology sector was one of the few in the green, the action Hewlett-Packard gaining 6.6% to 23.96 dollars after a source said the board planned to replace the CEO Leo Apotheker after less than a year of service.

Oracle has gained 4.2% to 29.54 dollars after reporting quarterly forecasts Tuesday night than expected.

"We do not anticipate a recession in Europe. The latest forecasts from the European Commission show that there will be growth, modest growth, it is true," said Monday the head of the executive in Brussels to a visit to Australia.

Concerns about the risk of contagion to Spain and Italy to the debt crisis in the euro area continue to cause nervousness in financial markets, and Greece feeds new concerns about its ability to achieve its goals of fiscal consolidation.

"Let me be very clear.The EU and the euro are strong and resilient, "said José Manuel Barroso after a meeting with Australian Prime Minister Julia Gillard, whose country belongs to the G20.

The New York Stock Exchange ended down 4.31%, the Dow Jones industrial yielding 30 512.76 points to 11,383.68 points.

The S & P-500, wider, lost 60.27 points, or -4.78% to 1200.07 points.

The Nasdaq Composite fell on its side of 136.68 points (-5.08%) to 2556.39 points.

The volatility index, sometimes called fear index, jumped 35.41%.

"There is a major correction," said Joseph Cangemi, managing director of BNY ConvergEx in New York.

The S & P 500 posted its worst performance since a meeting on February 10, 2009.

The discussions in Washington on controlling the fiscal deficit through a reduction in public spending and the publication of unemployment figures are bad to fear a new market into recession the world's largest economy.

The jobless claims in the week to July 30 fell by only 1,000 units compared to the previous week during which they had registered at 401,000 (revised from 398,000).

The remarks by the President of the European Central Bank Jean-Claude Trichet, who believes that the latest data indicate some deceleration in the pace of economic growth, have also produced a negative effect on the markets.

The fears weighing on demand had a negative first groups related to energy and raw materials.The S & P energy and materials that have plunged over 6% each.

The title General Motors sold 4.34% after publishing its results.

The action also AIG tumbled 6.34% as the group publishes its results after the close of Wall Street.

A reverse trend, the giant U.S. food Kraft Foods announced plans to split into two separate companies, while posting better than expected results and raising its forecast for 2011.

All these ads allowed under Kraft to break his fall and yield only 1.5% after jumping nearly 3% earlier in the session.

A press conference the President of the Federal Reserve Ben Bernanke United States will be given at the end of the monetary policy meeting of the Fed, while the second repurchase program assets by the Fed (QE2) s' completed at the end of the month.

Investors expect Ben Bernanke acknowledged a slowing U.S. economy and maintain interest rates at a historical low, which directs downward future of Wall Street.

The Dow Jones lost 0.41% to 12,139.80, the S & P-500 yields 0.35% to 1.290.93 and the Nasdaq Composite drops 0.39% to 2667.87.

Values, FedEx issued Wednesday with strong earnings in the fourth quarter of fiscal year and issued an optimistic forecast for 2012.

The action gained 2.6%. That of its competitor UPS was up 0.8%.

The IMF said in a statement it had signed an agreement to lend 26 billion euros in Portugal, one third of the 78 billion euros expected in this bailout plan over three years, the rest being provided by EU.

The loans are likely to be endorsed by finance ministers of the euro area at the Eurogroup meeting in mid-May, which should also fix the interest rate made in Lisbon, the major unknown remains around the rescue.Time is running out as Portugal must honor a bond repayments of 4.9 billion euros on June 15

"I'll be honest, this is not an easy program, a program that is painful, necessary, but we consider it fair," he told reporters Jürgen Kröger, European leader of the mission dispatched to Lisbon to negotiate bailout.

The plan, announced Tuesday by Prime Minister Jose Socrates, includes major cuts in public spending, higher taxes, labor market reforms and the judicial system and privatization.

"Headstrong" FOR THREE YEARS FOR LISBON

"A program of this magnitude, with ambitious goals and implementing intensive pace is demanding," ruled the Finance Minister Fernando Teixeira dos Santos, member of government responsible for current affairs since its collapse in March.New elections must take place June 5

He added that 78 billion was enough money and warned that the terms of the plan should probably push the country into recession this year and next, confirming the information revealed by Reuters on Wednesday a senior source.

The head of the IMF mission Poul Thomsen has also confirmed that the Portuguese economy would face "significant headwinds in the coming three years" and is expected to contract by 2% in 2011 and 2012 before returning the growth in the first half of 2013.

Speaking in Helsinki, where there was a meeting of the Governing Council of the European Central Bank, the ECB president Jean-Claude Trichet sure to have "confidence in Portugal" and called for broad political support for this program .

"The program of Portugal contains the necessary elements for the lasting stabilization of its economy (…) and thus to help restore confidence."

Markets should closely monitor the interest rate to be agreed in Lisbon, they compare with those allocated to the two other countries in the euro area have used to date to international aid, Greece and Portugal .

Jürgen Kröger said that the final rate would be decided at the Eurogroup meeting in mid-May and suggested that it might be similar to that obtained by Athens.

PORTUGUESE BANKS SAY IT DID NOT NEED LOANS

Regarding the implementation of the reform program, Fernando Teixeira dos Santos said that taxes on consumer products would be increased, but the income tax will however not changed. The debt / GDP ratio should continue to grow until 2013.

The bailout also includes a revenue of 5.3 billion euros after a privatization program until 2013.The state also renounce its golden shares in groups of utilities listed.

"This plan seeks to restore growth and jobs," said the minister during a press conference.

Portugal has raised its target of annual deficit, which rose by 4.6% of gross domestic product (GDP) to 5.9% of GDP. Last year, the deficit had risen to 9.1% of GDP.Under the terms of the plan, it should be lowered to 4.5% of GDP in 2012 and 3% in 2013.

The agreement includes support of 12 billion euros to the banking industry to recapitalize banks or allow them to gradually increase their ratio of "core Tier 1" to 10% by the end of 2012, said Wednesday an official source.

The President of the Portuguese Banking Association (BPA) said Thursday it was unlikely that major banks are in need of a part of the 78 billion euros earmarked for Lisbon.

Antonio de Sousa said at a news conference that the institutions would probably increase their capital by selling assets, reduce debt and carrying out capital increases.

The timing of payment of the first tranche of aid has not yet been defined, "said Fernando Teixeira dos Santos.

The finance minister has however said he hoped to see his return to Lisbon on the capital market towards the end of the three years covered by the plan.

The deficit was 1.02 billion euros in the first half, according to data from the Ministry of Finance.The ministry also confirmed the figures given last week that the deficit of the state fell to 148 million euros in the first quarter against 1.8 billion euros last year.

The secretary added that the budget spending fell 3.6% in the quarter, while revenue rose 15% as a result of austerity measures aimed at reducing the budget deficit to 4.6% of GDP this year against 8.6% in 2010.

"The first quarter performance shows that the State was able to gather sufficient resources to pay all its expenditures, social security and to service debt," said Emanuel Santos to the press.

Lisbon negotiating with the European Union and the International Monetary Fund modalities of assistance that could reach 80 billion euros.

"The other issue is to repay and refinance our debt and then actually we have a problem, external support is here for, to refinance," said Emanuel Santos yet.