Overnight euro Libor unaffected by news of €200 billion EU support
Overnight euro Libor remained unchanged from yesterday at 2.9%, despite the announcement a €200 billion stimulus package to shore up the struggling economies of European Union (EU) member states.
The recovery plan would provide €170 billion from the domestic budgets of member states, and around €30 billion from the union-wide budget. Heads of state will be asked to approve the plan at the European Council on December 11-12.
In the UK, overnight sterling rose to 3% from 2.99%, while no overnight dollar
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