Carmignac: French economy set to plunge

France is set to slide into recession imminently, sparking changes in government as soon as next Spring, according to Carmignac Gestion founder Edouard Carmignac.

Speaking at his firm's quarterly investment conference in Paris, the French fund manager said there was no sign of his country beginning the 'necessary' structural reforms which are needed to fix the economy. He pointed to manufacturing indices which suggested France was the worst performing nation out of a group of 20 peers in September, and said a slowdown in business confidence was set to accelerate. 'Business activity in France is going to plummet in the next few months. We will have to do something," he said. France's economy has failed to take-off since the end of 2011, with ...