Car Burnings Rise as France Threatens to Take Euro Crisis to ‘Higher Plane’, Says Hedge Fund Boss Michael Hintze

A stagnant economy, a weak President and a jump in car burnings are all signs of a looming crisis in France that is threatening to drive the eurozone’s problems to a “higher plane”, according to Michael Hintze.

by Louise Armitstead, Chief Business Correspondent
Telegraph.co.uk

The billionaire boss of CQS, one of London’s biggest hedge funds, has written to investors warning them that the France could trigger another more dangerous phase of the debt crisis and rock the fragile global recovery.

In a note to investors, Mr Hintze has said: “While Cyprus has stolen the news headlines of late, I am concerned that the eurozone’s problems could soon turn to the ‘core’, and in particular the focus could be on France.”

He added: “A loss of confidence in France would shift the eurozone’s troubles to a higher plane. France lies not only at the core of the eurozone, but is also one of the original architects of the European Union. Clearly, a loss in confidence in France would likely have far-reaching consequences; its impact on the EU, the broader global economy and markets.”

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