Greece can slay its financial demons – but will it spare the euro? | World news | The Guardian

by peterjukes

As Joshi notes, there is also “a large, active market in derivatives of CDS and even derivatives of derivatives. And as these more complex and esoteric instruments are over-the-counter contracts with no central clearing or reconciliation, it is simply not possible to know who holds what gross or net exposure, where they are, and what chain reactions would ensue.”

via Greece can slay its financial demons – but will it spare the euro? | World news | The Guardian.

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