Greece Must Solve its own Problems, says EU
Competition commissioner Joaquín Almunia says EU will support Greece, but that its problems 'can't be tackled from outside'
(Ed. Looks like Greece, Spain, Portugal et al. are on their own, look for markets to fall Monday...?)
The credit default swap market (where protection against sovereign default is traded) is at present an over-the-counter marketplace, with no public information about who is trading which products, and in which amounts.
(editor - perhaps a little too much subterfuge - see Goldman Sachs posts preceding)
"There's too much volatility [in the CDS market] that's not justified by the fundamentals of those economies," Almunia said.
And Khan Explains (Just substitute countries for corporations):
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