EU Libor Cases May Last Longer Than Those in U.S., Almunia Says

European Union antitrust probes into whether banks and brokers manipulated benchmark lending rates such as Libor “may last longer” than those in the U.S., EU Competition Commissioner Joaquin Almunia said.

While U.S. authorities can strike plea bargains with individual companies, the EU must deal with all companies at once, he said in a speech in Brussels today.