Monday , August 26 2019
Home / belgium / The EU accuses eight illegal cartels

The EU accuses eight illegal cartels

The Executive Body estimates that eight banks would have agreed "between 2007 and 2012" to mislead competition in the euro area bond market. He did not, however, reveal any words.

OEE is a euro-denominated government bond issued by the central governments of the euro area Member States.

On December 20, when Brussels announced the bond market research, the names of the four banks were leaked from various sources: Credit Suisse, Credit Agricole, Deutsche Bank, and Bank of America Merrill Lynch. According to her, "work in banks traders exchanged commercially sensitive information and coordinated their strategies for buying and selling European government bonds" (OEE).

Practice is not generalized

These contacts between traders would have taken place mainly – but not exclusively – in online discussion forums, the Commission writes in a statement. The Commission's investigation concerns "some traders" in eight banks and does not mean that the alleged anti-competitive practices were widespread in the European government bond sector.

(Many / AFP)

Source link