Worry about Greek CDS misguided, dealers suggest
Dealers believe fears about Greek sovereign CDS trigger event are overplayed
Sovereign credit default swap (CDS) protection buyers might be having sleepless nights over the consequences of a Greek restructuring – but bankers and analysts say their fears are unlikely to be realised.
Despite a €110 billion bail-out by the European Union and International Monetary Fund in May last year, a growing consensus is emerging that this will not be enough and that some form of Greek restructuring is inevitable. According to the New York-based Depository Trust & Clearing Corporation
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