Statement from UK Treasury --
HM Treasury warns businesses of serious threats posed to the international financial system
Important:
This constitutes advice issued by HM Treasury about serious threats posed to the integrity of the international financial system.
There is certainly enough material for such a warning, one would think. So what do they mean? Er, the huge threat to the financial system posed by some banking transactions in Iran, Pakistan, São Tomé & Príncipe , Uzbekistan and northern Cyprus. It's not clear which of these fiendish countries came with over the counter credit default swaps.
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