Monday, March 12, 2012

A Most Convenient Lie

The credit event and triggering of the CDS (credit default swap) is something internal. This is a kind of dealing room between banks and financial entities. It’s not something important for us as a real economy.

-Greek Finance Minister Evangelos Venizelos, in an interview with CNBC.

On the other hand, the WSJ says it doesn't feel all that bad about the CDS triggering.

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