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Credit default swaps in EuropeAbout the authorRichard Portes, Professor of Economics at London Business School, is Founder andPresident of the Centre for Economic Policy Research (CEPR), Directeur d’Etudes atthe Ecole des Hautes Etudes en Sciences Sociales, and Senior Editor and Co-Chairmanof the Board of Economic Policy. He is a Fellow of the Econometric Society and ofthe British Academy. He is a member of the Group of Economic Policy Advisers tothe President of the European Commission, of the Steering Committee of the Euro50Group, and of the Bellagio Group on the International Economy. Professor Portes was aRhodes Scholar and a Fellow of Balliol College, Oxford, and has also taught at Princeton,Harvard, and Birkbeck College (University of London). He has been DistinguishedGlobal Visiting Professor at the Haas Business School, University of California,Berkeley, and Joel Stern Visiting Professor of International Finance at ColumbiaBusiness School. His current research interests include international macroeconomics,international finance, European bond markets and European integration. He has writtenextensively on globalisation, sovereign borrowing and debt, European monetary issues,European financial markets, international capital flows, centrally planned economiesand transition, macroeconomic disequilibrium, and European integration.105