Bloomberg News

Libor Case Undermines Financial Confidence

July 21, 2012

European Central Bank President Mario Draghi said that revelations about the setting of the Libor, or London offered interbank rate, undermine confidence in the the world’s financial system, according to an interview with French newspaper Le Monde.

Rebuilding the financial-services industry after the crisis requires “lots to be done,” Draghi also told Le Monde.

To contact the editor responsible for this story: Fabio Benedetti-Valentini at

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