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.
Read more: http://www.dw.de/program/made-in-germany/s-3066-9798