The Financial Times has revealed that Italy is facing losses of €8 billion due to derivative contracts that were taken out in the 1990s and that were restructured during the Eurozone crisis. The Financial Times has gained access to secret documents that show that the Italian Treasury Department is sitting on losses that were the result of restructuring of eight debt contracts. The terms seem to have been badly negotiated with foreign banks in 2012. Apparently, the report does not go into too much detail and omits certain essential information leading analysts at the FT to believe that the €8 billion are not quite the ... (full story)