Official: CDS didn’t cause Greek tragedy

first_img AN EU investigation revealed yesterday that trading in sovereign credit default swaps did not cause a spike in borrowing costs for states such as Greece this year.The report, commissioned by EU finance ministers in March, found “no conclusive evidence” that developments in the CDS market affected the cost of state borrowing.It praised the “efficiency of CDS markets in sovereign debt” and said they had little influence on bond yields even where governments faced funding difficulties.“CDS spreads for the more troubled countries seem to be low relative to the corresponding bond yield spreads, which implies that CDS spreads can hardly be considered to cause high bond yields for these countries,” the report said.It follows tough new European Commission proposals published in September that aim to tighten rules on short selling and restrict trading of CDS on sovereign debt, where investors effectively take a short position on EU government bonds.But a UK member of the European Parliament, Syed Kamall, lashed out at the draft legislation.“The paper says that restrictions on credit default swaps of sovereign bonds is bad policy. Yet this is exactly what the Commission regulation is pushing for,” he said.The Conservative MEP, said a crackdown on sovereign CDS could push up yields on government borrowing.“With rapidly rising bond yields in Ireland, Portugal, Spain and Italy, we certainly should not be adopting policies that could make these yields rise further,” he said.The report concluded that CDS trading even helped lower the cost of funding sovereign deficits, as by insuring the debt they enabled institutional investors to take on more and kept yields for troubled countries “lower than otherwise would be possible,” it said. KCS-content More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 Tags: NULL whatsapp Tuesday 7 December 2010 9:04 pmcenter_img Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald whatsapp Official: CDS didn’t cause Greek tragedy Show Comments ▼last_img read more

Unibet scores record shirt sponsorship deal with Club Brugge

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Online gambling operator Unibet has is to become the main front-of-shirt sponsor for reigning Belgian First Division A champions Club Brugge. Topics: Marketing & affiliates Sports betting Marketing & affiliates Regions: Europe Western Europe Belgium Unibet scores record shirt sponsorship deal with Club Brugge 26th June 2019 | By contenteditor Subscribe to the iGaming newsletter Email Address Tags: Online Gambling Online gambling operator Unibet has is to become the main front-of-shirt sponsor for reigning Belgian First Division A champions Club Brugge.Terms of the agreement were not disclosed, but it has been confirmed that the deal covers the 2019-20 season and represents a record commercial partnership for the club.Unibet, which served as the team’s sleeve sponsor last season, will now benefit from its brand appearing on the front of players’ jerseys.The Kindred Group-owned Unibet will also work with Club Brugge to create exclusive content for fans, as well as provide official match data to the club.In addition, Unibet will support the team’s corporate social responsibility campaign, No Heart/No Glory.“In the past few years, there has been a lot of interest from the sports betting industry to partner up with Club Brugge,” Club Brugge chief operating officer Bob Madou said. “Unibet is one of the biggest gambling companies and is fully licensed by the Gaming Commission. They are one of the strongest advocates of responsible gambling and have a clear link with sports.”Timothy Mastelinck, global head of sponsorships Kindred Group, added: “Just like Club Brugge, we are the market leader in our sector, we share the same values and we are driven by a passion for sportsmanship.“Fair play is not only one of the most important pillars of modern football; it’s also a key factor for Unibet. After all, we want to offer our customers a safe, secure and joyful gambling experience and ensure they are aware of their gambling behaviour so they can play responsibly.“Thanks to our collaboration with Club Brugge, we can better highlight this message.”last_img read more