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Bloomberg's Official Explanation For Why The Drachma Showed Up On Its Terminal
This morning, we noted that an XGD function—a spot price for a post-euro drachma currency—was showing up on our Bloomberg terminal. We reached out to Bloomberg's Help Desk for an explanation, but the response was that it was "an internal function which is set up to test." We just received an official response via email: In the normal course of business, Bloomberg carries out contingency planning exercises. In accordance with this, Bloomberg has planned for a number of different scenarios across all our businesses including individual sovereign default scenarios and changes of currency for individual ... (full story)
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