Markets

Ciaran O'Hagan of SocGen on Euribor

Part 2 (recorded on Thu 28 April 2008): The reliability of Libor can be improved by moving to the Euribor system with a larger panel of banks polled on interbank lending costs, according to a leading European strategist. But Ciaran O'Hagan, head of Paris interest rate research at Société Générale, says you can't "just rip up the rules" for Libor. He backs the Euribor approach of asking banks what they think their rivals are quoting on the interbank market, rather than their own quotes.