Drowning in Debt: A German town flounders on interest rate swapping | All media content | DW | 19.02.2013
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Drowning in Debt: A German town flounders on interest rate swapping

The town of Hückeswagen has filed a suit for 20 million euros that’s something of a test case for other German municipalities. In 2000, many towns began dabbling in risky interest rate swaps - and many lost a lot of money in the process. Even worse, many of the banks have gone out of business. In late February, a Dusseldorf court will rule whether Hückeswagen has a claim to compensation.

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