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In February, it was revealed that Goldman sold $142.4 billion in credit default swaps that would pay out in the event Greece, Ireland, Portugal or Spain defaulted on its debt. Goldman also purchased swaps on the same debt worth an estimated $147.3 billion in all, according to Bloomberg.
"This is a very big test for the EU as a concept," Blankfein said Thursday. "I'm rooting for it to work."