|The sun is setting on summer 2017 (and
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...