The Financial Times writes about a 29-page report by the Rome Treasury, obtained by the Financial Times, which says Italy faces bigger losses than originally thought on restructured derviative contracts.
The article is a little short on details, indeed notes the FT, “the report leaves out crucial details and appears intended not to give a full picture of Italy’s potential losses,” but “the restructuring allowed the cash-strapped Treasury to stagger payments owed to foreign banks over a longer period but, in some cases, at more disadvantageous terms for Italy”.
Link: Italy faces restructured derivatives hit (gated, but can be read with free registration)
