Eine stille Revolution
Bisher ließen sich Regierungen bei ihrer begrenzten Nutzung von Derivaten nicht in die Karten schauen. Doch manche weiten ihre Mandate jetzt auf ein breiteres Risikospektrum aus und wenden sich vermehrt den Derivatmärkten zu
Staaten gelten nicht als Beispiel für hervorragendes Risikomanagement. Tatsächlich besteht die verbreitete Ansicht, der Begriff "staatliches Risikomanagement" sei ein Widerspruch in sich. Als Hinweis auf die Trägheit staatlicher Risikomanager werten Kritiker etwa die im Jahr 2002 gescheiterten Zinsswap-Programme der französischen Regierung oder den verbreiteten Irrtum, das britische Debt Management Office (DMO) habe noch nie ein Derivat gehandelt. Das ist falsch. Überall auf der Welt vollzieht
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