• News Feeds
Page last updated at 09:58 GMT, Thursday, 5 July 2012 10:58 UK

Libor scandal 'damaging' for City

Advertisement

The former Barclays CEO Bob Diamond faced a panel of MPs yesterday and his evidence has far reaching implications for the City of London.

Andrew Lilico, Director of consultancy Europe Economics, believes that the scandal over the Libor rate is "potentially catastrophic" for Britain's role in financial services and legal services.

"I think we're talking about a very serious event here," he told the BBC Today programme's business presenter Simon Jack.

Mark Boleat, chairman of the Policy and Resources Committee of the City of London, agrees that it is "damaging" for the City of London


Get in touch with Today via email , Twitter or Facebook or text us on 84844.

SEE ALSO

Story Tools

BBC iD

Sign in

BBC navigation

Copyright © 2019 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific