"Triggering CDS (on Greek bonds) may have to be considered," says the EC's Mario Buti,...

|By:, SA News Editor

"Triggering CDS (on Greek bonds) may have to be considered," says the EC's Mario Buti, ratcheting up pressure on parties to seal a debt restructuring deal (since when does the EU decide if CDS are triggered; isn't that the ISDA's job?). "We are wiping off the face of the earth €100B in existing claims," responds the lead negotiator for the banks, asking everyone to stick to just the 50% haircut agreed to in October.