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Contribution Details

Type Bachelor's Thesis
Scope Discipline-based scholarship
Title Credit Default Swaps and the European Sovereign Debt Crisis
Organization Unit
Authors
  • Borislav Panorov
Supervisors
  • Kjell G. Nyborg
  • Cornelia Rösler
Language
  • English
Institution University of Zurich
Faculty Faculty of Business, Economics and Informatics
Number of Pages 64
Date 2016
Abstract Text In this thesis I aim to address the role of Sovereign Credit Default Swaps (SCDS) in the European Sovereign Debt Crisis (ESDC). I divide this thesis in two parts. In the first one, I examine the origins of CDS and their main uses. Then I exhibit the market development before and after the global financial crisis which started in 2007. I continue by analyzing the role of CDS in the subprime crisis in the United States (US) and subsequently in the ESDC. In this part I also pay attention to the main directions of scientific work in the field of CDS and SCDS and I conclude by explaining and evaluating the European Union (EU) regulators’ ban on SCDS short selling.
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