Eight European banks have been fined a total of €1.7 billion after the European Commission found that they had been participating in illegal cartels to fix the multi-trillion euro market of financial derivatives.
The latest rate-fixing scandal, which involved a string of Europe's biggest high street and investment banks including Barclays, RBS, Deutsche Bank and Societe Generale, comes just over a year after a handful of banks were fined for manipulating the inter-bank lending rate that...
Enjoy access to all articles and 25 years of archives, comment and gift articles. Become a member for as low as €1,75 per week.
Already a member? LoginBenjamin 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.
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.