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

Barnier Reding July 2012.JPG

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:

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