Christian Bittar, a former Deutsche Bank trader, has had his 2018 conviction for manipulating the Euribor interest rate overturned by the Court of Appeal. This decision follows the recent quashing of five convictions of ex-Barclays bankers involved in similar rate rigging cases, highlighting ongoing legal challenges surrounding the financial crisis.
The overturning of these convictions raises questions about the role of central banks and governments in interest rate manipulation. With most traders previously convicted now exonerated, calls for transparency from the Bank of England and the Treasury are increasing, suggesting a potential shift in accountability within the financial sector.