Oct. 13 (Bloomberg) -- The U.S. and European Union financial systems are connected by the swaps market, Gary Gensler, head of the U.S. Commodity Futures Trading Commission, said in a speech in London today.
“The current debt crisis in Europe is but a stark reminder of our interconnectedness,” Gensler said. “Central clearing is essential to protect banks customers as much as it is to protect the taxpayers.”
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