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Jakobsen: Why France needs a Thatcher moment

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September 01, 2014 bourse, business, cac, cac 40, cac40, capitalism, capitalisme, change, crisis, crisis france, depression, ecb, econnomie, economic, economics, economie, economy, europe, eurozone, eurusd, finance, fr, france, france economy, france jobs, french, french economy, french government, french revolution, gouvernement, government, holland, hollande, jakobsen, la france, manufacturing, margaret thatcher, margret thatcher, news, pmi, qe, revolution, saxo, saxo bank, saxo tv, steen, steen jakobsen, tf, thatcher, tradingfloor.com, video
France is its own worst enemy; that's according to Saxo Bank's Chief Investment Office, Steen Jakobsen. He argues that the country desperately needs a 21st century revolution and its new government lacks a true mandate for reform. His comments come as French PMI data showed its manufacturing activity shrank to its lowest level in nearly a year and a half. 
He argues that true change only comes from a true crisis and France "needs" a deep recession and even a depression. The country is crying out for a "Thatcher moment", he says, a leader such as Margaret Thatcher who would be brave enough to get elected on a mandate for change.