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WireTap 0900 06/03/12

by Euromoney Skew

A round-up of the key stories across the specialist financial media, including news that regulators and banks are discussing a possible overhaul of Libor.



Regulators consider Libor overhaul

UK regulators and global banks are discussing a potentially far-reaching overhaul of the calculation and regulation of interbank lending rates, amid claims that the benchmark for $350tn contracts worldwide may have been subject to manipulation.

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Clock ticks on buyout debt

Over the next five years, some $550 billion of loans made to European companies taken over in leveraged buyouts will mature.

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IMF sees Portugal market return in 2013

Portugal should be able to return to bond markets next year and private creditors aren’t expected to take writedowns on the nation’s debt, the head of the IMF’s aid mission to the country said.

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IIF sees 1 trillion euro fallout from Greek default

A disorderly default in Greece would probably leave Italy and Spain needing outside help to stop risks spreading, and cause more than 1 trillion euros in damage to the euro zone, according to the Institute of International Finance.

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European stocks open lower

European stocks opened slightly lower Tuesday following weak sessions in the U.S. and Asia, with investors erring on the side of caution as the Greek debt swap deadline looms.

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