One Man, Two Guvnors...LIBOR – it’s no longer a farce

At the beginning of the year who would have thought that the Wheatley LIBOR review would have been this year’s smash hit stage performance?

Last Friday saw the appearance of a new star on London’s Mansion House stage. Some speculated that he had previously understudied on the farce One Man, Two Guvnors – but no, this was firmly a solo performance of “real economy” class. Were we about to see the birth of a new London institution to rival The Mousetrap currently in its 60th anniversary year at St Martin’s Lane theatre? Would we get any insight into the mystery plot which LIBOR has become over the past four years since the ACT first raised its concerns? Crucially would it now be okay to mention the plot openly to others without fear of recrimination?

Well now we know. After a superb solo performance, Martin Wheatley has now given us answers to many of the critical LIBOR questions as well as very clear future direction. Wheatley is a serious player, ideal for the very serious plot...but thankfully he softened it with a Dusty Springfield inspired “I close my eyes and count to ten” LIBOR chorus line. All in all we all went back to our desks with a spring in our step, a song on our lips and a "climb every mountain" belief that LIBOR does have a better future.

Thank you Mr Wheatley – you were spot on.

As Wheatley reminds us, with existing contracts stretching out 65 years, this new London show will run and run, and now has every chance of being copied by others internationally. Mousetrap II is definitely on its way. The blurb on the programme this time is “don’t get caught but do tell your friends”.

Missed it? Why not see what we thought in our latest press release. As usual the ACT will do its best both backstage and in the wings to make sure we don’t lose the plot on detailed implementation.

Related keywords and elements of treasury
ACT Competency Framework

Be the first to hear of treasury news, regulatory change, plus receive discounts on ACT event tickets and more..

Join ACT networks

Celebrating success


Please wait....