There is a temptation with anniversaries to look back – and plenty has happened since Risk celebrated its 20th year with a bumper July 2007 issue. A crisis that began with defaulting low-income homeowners in the US has since engulfed the banking industry and is now shaking the foundations of the European Union.
But everyone knows, or thinks they know, what has happened over the past five years. Instead, Risk25 focuses on the next five years – a period when the liquidity of over-the-counter deriv
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