Credit default swaps (CDSs) have been widely blamed for exacerbating the eurozone debt crisis, and few people will have wept on May 18 when Germany's financial regulator tried to rein the market in.
One of those who may have felt a sting of sympathy is Mattias Persson, head of financial stability at the Sveriges Riksbank, Sweden's central bank.
"We shouldn't shoot the messenger," he told Risk in an interview at the start of this month. "In Europe, the net open position in CDSs is much smaller th
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