Vincent Boland: Demise of Libor is another symptom of Britain’s malaise
The death of the international financial benchmark in use for 40 years is symbolic of a small, stagnant Britain systematically destroyed by Tory rule
In a little over three months from now, an obscure but important corner of the City of London will cease to be. At the end of June, the financial world will stop using the Libor benchmark as the global reference for pricing tens of trillions of dollars of loans and bonds. And at that moment, a 40-year chapter of the City’s history and of its vast global reach will close for good.
The London Inter-Bank ...