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[VIDEO] EU: bank-rate manipulation to become criminal offence

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Published 26 July 2012

Speaking at a press conference in Brussels, Michel Barnier, EU Internal Market Commissioner, presented on Wednesday (25 July) EU-wide action to fight rate-fixing. His colleague in charge of justice and home affaires, Viviane Reding, slammed what she described as a "bankster" culture.

"The Libor case has been clearly revealing manipulation of inter-bank lending rates. Behind this manipulation, there was a total lack of any moral values, a scandalous behaviour from a number of financial actors", Barnier said.

Here's a video highlight of Wednesday's press conference:

EurActiv.com

COMMENTS

  • Bravo to both commissioners for their swift,clear and resolute reaction.
    Keep going that way! It's the only way to safe Europe in the eyes of the citizens of Europe.

    By :
    Brigitte Marcher
    - Posted on :
    27/07/2012
  • Errrrr sorry what about Fraud ?

    By :
    Tony Nichols
    - Posted on :
    27/07/2012
  • Dear Mr Barnier

    How about the EU accounts not being signed off by auditors for 17 years in a row? Maybe that's just a minor problem though, after all what's a few billion euros unnacounted for?

    Can you get me a job please?

    By :
    Charles_M
    - Posted on :
    28/07/2012

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