[Credit-default swaps are derivative financial instruments that "swap" the credit exposure from one entity to another. In simple terms it is an insurance policy for an entity's debt obligations. The buyer of the swap holds the insurance, while the seller takes the risk. The listed number is the price, in thousands, to insure $10 million in debt.]
Please note that not only are these predatory bets against the ability of a nation to pay its debts still taking place, the prices are still rather favorable. To pay a mere 360,000 USD against 10,000,000 in Italian debt is still an attractive investment.
In other words, Wall Street is still destroying nations for profit.
