Greece says not worried by possible CDS payout
ATHENS (Reuters) - Greece is not worried about the fallout from any decision the International Swaps and Derivatives Association makes on whether credit default swaps must be paid out after a bond swap, Finance Minister Evangelos Venizelos said on Friday.
“This is not a concern for us because the net amount at stake globally if CDS are triggered is less than 5 billion,” he told parliament.
“This is a totally negligible sum for the Greek and the European economy.”
Reporting by Harry Papachristou, Writing by Deepa Babington