Here's That Report On CDS Speculators That The EU Doesn't Want You To Read

On Tuesday we mentioned an article in The Telegraph claiming that a report existed, that was commissioned by the EU, which showed that contra the claims of many officials, speculators, and CDS buyers were not a cause of higher funding costs.

Anyway, the report has been obtained by a Dutch Newspaper (via Felix Salmon) and while it’s a little long and broad, it does state clearly the conclusion that there’s no apparent connection between the CDS market and higher funding costs for banks.

Here’s the key part on that:

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It’s bad news of course, It means the various EU governments really are in such bad shape.

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