”t afford.
The headlines read that EU officials are scrambling over the weekend to avoid triggering a Greek default which could set in motion a daisy chain like detonation of those familiar weapons of mass destruction, credit default swaps. The very same WMD that nearly took down the global financial system in 2008. They’re back!!. And just when you thought it was safe to go in the water. Apparently there are astonishingly large bets between all kinds of counter-parties regarding sovereign European debt that threaten to take down the entire global financial system all over again. Or at least a lot of … Read more