Wednesday, 4 July 2012

Carmignac to Hollande: ?plan to fleece entire country is doomed?

´'Edouard Carmignac, founder and chairman of France's largest independent asset management firm, has written a critical open letter to France’s new president Fran├žois Hollande where he lambasts his reform plans.

Following his open letters to the ECB’s former president Jean-Marie Trichet in October and to its new president Mario Draghi in January this year, Carmignac tells Hollande he has a ‘historic opportunity’ to carry out the in-depth reforms France needs to help it face its major challenges.

‘Unfortunately, the first projects unveiled by your government do not engage on this path,’ Carmignac wrote in the letter published in leading European newspapers on Wednesday.

‘On the contrary, they portend a number of ominous consequences.’...


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