On September 16 1992 the state fought the markets, and the markets won.
- Reader in Economics and Finance, University of Portsmouth
Some traders were panicking to lose positions that now looked hopelessly exposed, while others were trying to make the most of the opportunity.
As the sun sets on world markets, rumours of the death of investors’ favourite safe haven have been much exaggerated.
Recalling August 9 2007 – the start of the credit crunch and global financial crisis.
LIBOR continues to evoke irritation, frustration and fear – for traders, central bankers and the public.
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