Just like its footballers, Italy’s lawyers have had a roller-coaster ride this year.

While the match-fixing scandal has struck at the heart of the domestic football league, the banking sector has ridden out its turbulent times by replacing Bank of Italy governor Antonio Fazio with Mario Draghi. The change has already triggered a shift in the banking sector, possibly leading to improved access for foreign banks and juicy deals for law firms.

Matching the country’s World Cup win, corporate Italy
is outperforming all records. Huge M&A deals, such as
the €25bn (£17.29bn) Autostrade and Abertis tie-up, coupled with a booming IPO market, have created a fertile ground for both local and foreign lawyers.

This Special Report examines the impact of this change, and also the Lottomatica subordinated bond issue, which could transform corporate finance structures.

It is an exciting time on the peninsula.