Brussels to strip London of LIBOR role

PressEurop ^ | 6 June 2013 | (Financial Times)

[Olog-hai]

Oversight of the LIBOR bank lending rate will be taken away from the City of London and transferred to Paris under a new plan currently being drafted by the European Commission.

The proposal, due to be published in the summer, would see the regulation of hundreds of influential price levels, including oil and gold, transferred to the France-based European Securities and Markets Authority. …

[Olog-hai]

Ain’t that great. So weakened by the EU that the more corrupt EU gets to take over LIBOR.

[Wyatt's Torch]

So will it now be the PIBOR?

[PGR88]

Vote UKIP