EMEA: activism hits Europe

Author: Lizzie Meager | Published: 24 Aug 2017
The sun is setting on summer 2017 (and on Libor)

Of all the events that could be attributed to it, the summer of 2017 is likely to be remembered for years to come as the time when Libor's (the London Interbank Offered Rate) wild ride came to an inevitable end. The Financial Conduct Authority (FCA) said in mid-July that the controversial benchmark would be phased out by 2021.

Another reminder of the financial crisis – which will, of course, soon celebrate its 10-year anniversary – came a few weeks earlier, when Allied Irish Banks (AIB) completed a successful initial public offering. The deal, the second-largest this year and biggest in London since 2011, signalled a turning point for the Irish economy. AIB had been recapitalised twice before it was eventually nationalised and delisted in 2010 at a cost of €21 billion...



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