The phase diagram of the t - J - V model is discussed using a 1/N expansion
in terms of X operators. It is shown that a flux phase of d-wave symmetry
is stabilized by the Coulomb interaction at intermediate dopings and compet
es with d-wave superconductivity. Since the flux wave instability is strong
er than the superconducting one optimal doping is essentially determined by
the onset of the flux phase at zero temperature at the doping delta (c) si
milar to 0.14 for J/t = 0.3. For delta < <delta>(c) the flux phase coexists
with superconductivity at low and exists as a single phase at higher tempe
ratures. Due to the different origins of the two instabilities the flux pha
se boundary and especially delta (c) is much less sensitive to impuritiy sc
attering than the boundary for superconductivity in agreement with experime
nts in Zn doped La - 214 and (Y, Ca)- 123.