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1. Consider the EU Markets in Financial Instruments Directive (2004/39/EC), commonly known as MiFID. How should the introduction of MiFID have affected credit default swap

1. Consider the EU Markets in Financial Instruments Directive (2004/39/EC), commonly known as MiFID. How should the introduction of MiFID have affected credit default swap (CDS) spreads in the EU? Make a forecast. [20 marks]

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