Sovereign CDS become Europe's political villain

03/1/2010 | Financial Times (tiered subscription model)

Sovereign credit default swaps have replaced hedge funds as the political bogeyman in Europe. The French and German governments have considered banning the use of CDS because of the Greek debt crisis. CDS on Greece's debt has reached record highs. Some are complaining that ruthless investors are using CDS to manipulate financial markets, prompting calls for tighter scrutiny of the financial product.

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