Libor should be reformed and not scrapped according to a review by the chief of financial conduct at the Financial Services Authority Martin Wheatley.
Despite the ongoing scandal over the manipulation of Libor by banks in the UK and abroad, the review said that there was a clear case to “comprehensively” reform the bank lending rate.
The European Stability Mechanism must start with a clean slate according to the Finnish finance minister Jutta Urpilainen.
The British Bankers' Association will support any stripping of its responsibilities relating to Libor, the group said last night.
The chairman of the US Commodity Futures Trading Commission Gary Gensler has called on a rate with observable transactions to replace Libor.
Italy must maintain momentum on its economic reforms, OECD secretary geenral Angel Gurria said today.
The Basel Committee on Banking Supervision, the International Organisation of Securities Commissions and the International Association of Insurance Supervisors has issued its final report on the supervision of financial conglomerates.
Negotiations over Greece's bailout have been paused until next week after "intense" talks between the country and its international creditors.
The UK government is likely to miss its debt reduction goals this year after Office for National Statistics figures showed borrowing for the first five months of the year running at over 25% above targets.
Spain has beaten its bond auction target of €4.5bn today with €4.8bn raised this morning.
The Financial Services Authority warned Barclays that would revoke Bob Diamond's appointment as the bank's chief executive if the investigation into Libor proved to have an "adverse effect" a memo released by the Treasury Select Committee reveals today.
France and Germany have room for an agreement over the proposed banking union according to French finance minister Pierre Moscovici.
The Bank of Japan has become the latest central bank to fire up the printing presses again in a bid to stimulate the economy.
Bank bail-ins must not be used in isolation from other resolution tools when a bank is in trouble, director of the Special Resolution Unit at the Bank of England Andrew Gracie said today.