The present invention provides a binder for loose leaf papers, comprising a cover (5) and a binder structure (2), the binder structure (2) comprising at least two binder loops, each binder loop comprising at least two binder loop segments (4,4a) having a first, contacting position for holding loose leaf papers and a second, separated position, the covering comprising at least two holes (11, 12, 13, 14), the binder loops passing through respective holes of the covering in the first position.