French business erupts in fury against "disastrous" François Hollande - Telegraph The situation is very serious. Some business leaders are in a state of quasi-panic, said Laurence Parisot, head of employers group MEDEF. The pace of bankruptcies has accelerated over the summer. We are seeing a general loss of confidence by investors. Large foreign investors are shunning France altogether. Its becoming really dramatic. MEDEF, Frances equivalent of the CBI, said the threat has risen from a storm warning to a hurricane warning, adding that the Socialist government of François Hollande has yet to understand the extreme gravity of the crisis.