As we approach the 10-year anniversary of it all
starting to go south in the global financial markets, UK
regulators have decided that now is the time to replace the
London Interbank Offered Rate, more commonly (and sometimes
even affectionately) known as Libor.
But there was no sentimentality involved in the decision
unveiled by Financial Conduct Authority (FCA) chief executive
Andrew Bailey at a Bloomberg event in July. After a 33-year
long whirl, euthanising it is the sensible option, he
It's definitely nothing to do with the scandals that have
engulfed its short life....