The EU executive has sent legal warnings to a number of Austrian banks…

Series Title
Series Details 30/11/00, Volume 6, Number 44
Publication Date 30/11/2000
Content Type

Date: 30/11/00

...alleging that they held unlawful discussions about commissions for exchanging euro-zone currencies. This is in addition to charges which the Commission has already levelled at Austrian banks suspected of participating in an alleged cartel known as the Lombard Club. Officials said the new warning was based on evidence that the banks also intended to enter into unlawful discussions concerning euro- zone exchange rates.

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