Libor Manipulation Probes A Priority, EU Watchdog Says

Law360, New York (February 22, 2013, 5:21 PM EST) -- In the wake of several high profile U.S. Libor settlements, the European Union's antitrust chief took a hard line on the alleged rate manipulation plot Friday, calling it "one of the most irresponsible" things the financial industry has ever done.

Competition Commissioner Joaquin Almunia called the investigations into the manipulation of Libor and related benchmark rates Euribor and Tibor an "absolute priority" for the European Commission.

"The Libor manipulation scandal as it has been revealed highlights one of the most irresponsible behaviors of the financial industry...
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