This is something – looks like the financial revolution as a result of digitalization could be starting (the way the entertainment, music, education, and publishing industry revolutions have already started). This attempt is to expose the Euribor index to make it transparent to the public and remove the unfair advantages banks have to make extra profit through the index.
/cc +Sai +Gregory Esau
Reshared post from +Antonio de Sousa Barroso
Esto es lo que hay, la frase la banca siempre gana ha sido siempre una máxima que se repite, y me temo que hacemos algo o nuestros hijos serán los siguientes…
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+Sai see the link on +James Poulson s page: opeuribor.es/en/what-is-euribor/
It's got a nice overview. The only thing I'd add to it: In practice, there are a bunch of consumer mortgages and loans with interest fixed against the euribor rates, not just inter-bank loans.
What a great example of using the open architecture of the web, to crowd-source and smart swarm the necessary intellect to unravel what looks to be private manipulation of how an open market should work.
+Sai The english text can be had here: http://opeuribor.es/en/2012/02/26/welcome/
Thanks for the heads up, +Sophie Wrobel !