Interbank market ‘almost dead’ in Europe, says Banque de France’s Mongars

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The interbank market in Europe has for some time failed to operate in a functional manner and is "almost dead", according to Philippe Mongars, deputy director for market operations at the Banque de France.

Mongars made the comments during a panel discussion at Central Banking's National Asset-Liability Management symposium in London on March 29 after being asked by moderator Petra Geraats, a lecturer in the faculty of economics at the University of Cambridge, about why the euro overnight

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