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Greece, Contagion, and Credit Derivatives
Jul 28, 2011
In this Research Bulletin, we examine market exposures to the crisis in Greece and the risk of contagion in the event of credit default swaps. The memory of 2008, and the central role played by credit derivatives, is painfully fresh. Our findings show that while plenty of risks exist, credit derivatives do not appear to be the core of the problem.
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