Relevant:
- Derivatives Overseer Rules Greek Debt Swap a "Credit Event," Leading to CDS Payouts
- Greece Default SWAPS Don't Have to Pay: ISDA
- Credit Default Swaps Useless as Hedge Against Default; CDS on Greece a Purposeful Sham
- Greek Crisis Raises New Fears Over Credit-Default Swaps
- Impotence, Leverage and Central Banking
2011-07-12 — guardian.co.uk
``Accepting that a Greek default was now impossible to avoid, EU governments are hoping it will be brief and "selective", not triggering a "credit event" on the financial markets that could wreak havoc on the credit default swap markets, also in the US, and unleash contagion.''
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