09/01/2013
During the last decade a huge reshape was performed in the global financial system, specially, through the massive use of the Credit Default Swap, a derivative traded over the counter, regardless of the significance of this security for financial stability worldwide. The fact changed substantially the access of developed countries to credit, disturbing the amount of funds that could be allocated to the Armed Forces and such affecting international security.
Author: Gregorio Pablo Álvarez Rubial
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