
No, it’s not dastardly speculators, not the CDS market, hedge funds or anything of the sort. In total, BNP Paribas, which has been at the centre of market fears connected to its exposure to eurozone sovereign debt, said it had reduced its government debt exposure by 25pc in the third quarter from €106bn (£91bn) to
submitted by
TimWorstall on 4th Nov 2011 (via timworstall.com)