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Thank you so much! Why LIBOR is replaced? What's the connection between 2008 Credit Crunch, Barclays's scandal and LIBOR replacement? Why LIBOR has biggest effects

Thank you so much!

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Why LIBOR is replaced? What's the connection between 2008 Credit Crunch, Barclays's scandal and LIBOR replacement? Why LIBOR has biggest effects in banking industry

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