The EU lets the bankers go on rigging the benchmarks

The European Commission adopted yesterday additional “measures to restore confidence in benchmarks following Libor and Euribor scandals”. The new draft legislation complements the political agreement on Market Abuse Regulation proposed by the Commission last July and endorsed by the Parliament and the Council. Benchmark setting is not confined only to interest rates like Libor and […]

EU prepares a banking union amidst financial ruins

There was no better opportunity than now, to observe how unfounded and shallow the institutional structure of Eurozone was, probably for the big guys to do whatever they liked. At a time when the Cyprus banking sector threatens to drive the whole island to a shipwreck, the European Parliament, the Council and the Commission are […]