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Del Missier denies Libor fixing was 'significant event'

Jerry Del Missier has downplayed the significance of Barclays fixing its Libor rate, given the other events that were happening at the time.

The entire financial system was hanging in the balance, and in the grand scheme of everything that was going on, it didn't seem a significant event, given the number of significant events that were transpiring at that time.

Within a week there was a co-ordinated, massive reduction of interest rates, which frankly rendered the whole issue obsolete.