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Italy Swap Losses, Net Liabilities in 2015 Top Euro Area

  • Derivatives held by Italy burdened debt by 6.8 billion euros
  • Swaps' weight on country higher than on whole region combined
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Derivatives burdened Italy’s public debt again last year, making the nation the biggest swap loser in the euro region.

Losses and net liabilities related to swaps held by the country weighed on its debt in 2015 by 6.8 billion euros ($7.7 billion), according to Bloomberg calculations based on data released Thursday by European Union statistics office Eurostat. In the 2012-2015 period, the burden totaled 21.3 billion euros, also a euro-area record.