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[ad_1] Tony / Flickr Derivatives Intelligence (part of Institutional Investor) reports that the International Swaps and Derivatives Association has determined that Greece has triggered a credit event in connection with its debt restructuring. This would trigger the payment of credit default swaps – insurance contracts on Greek bonds issued under Greek law. But we don’t …

Greek Prime Minister Lucas Papademos (L) talks to Finance Minister Evangelos Venizelos before a cabinet meeting at the parliament in Athens March 9, 2012. REUTERS/Yiorgos Karahalis NEW YORK (Reuters) – Greece has triggered the payment of default insurance contracts using legislation that imposes losses on all private creditors, the International Swaps and Derivatives Association said …