The EU is planning an overhaul of inter-bank lending rates tainted by the Libor and Eurlibor rate-fixing scandals.
At a public hearing in the European Parliament on Monday (24 September), EU internal market commissioner Michel Barnier said that new rules on the calculation of interest rates would be presented before the end of 2012.
He told MEPs that the European Commission is working with other international regulators to restore public trust in the system, which he described as...
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Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.