Isda: CDS speculation not to blame for Greek crisis

The International Swaps and Derivatives Association has hit out at “flawed and inconsistent” media reports that suggest speculative use of sovereign credit default swap (CDS) contracts might be exacerbating the debt crisis in Greece.
 
In a statement released yesterday, the association highlighted the contradiction in saying the CDS market is complex and opaque while also liquid enough to influence enormous markets. It pointed out that even the market for the most heavily traded CDS names is much