ROME Feb 22 The Italian Treasury paid out
around 1 billion euros last year to close a derivatives contract
before its natural termination, Economy Minister Pier Carlo
Padoan told parliament on Wednesday.
Italy has lost billions of euros in recent years as a result
of its use of derivatives contracts, triggering attacks from
opposition parties which say the Treasury has been incompetent
and want the contracts to be published.
In answer to parliamentary questions, Padoan said the
mark-to-market value of derivative contracts entered into by the
Treasury was a negative 37.8 billion euros ($39.75 billion) at
the end of 2016, compared with -36.7 billion at the end of 2015.
The cash balance of the Treasury's operations in derivatives
in 2016 was -4.2 billion euros, Padoan added.
($1 = 0.9510 euros)
(Reporting by Giuseppe Fonte, writing by Gavin Jones, editing
by Isla Binnie)