We have served on the ICE Benchmark Administration’s (IBA’s) LIBOR Oversight Committee as an observer and actively worked with IBA in developing the reforms set out in IBA’s Roadmap for LIBOR.
In contrast to other jurisdictions, the Eurosystem is for good reasons forbidden to act as lender of last resort for governments. The risk profile of euro-area sovereign debt is therefore different. 4. The tax deductibility of interest  As Benjamin Franklin famously said, nothing is certain except death and taxes. But actually, this timeless quip does not apply to debt.