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2019-06-05

Target2 credits have reached €920bn - and Italy

Bond purchases by the ECB under its quantitative easing scheme have exacerbated the imbalances, effectively becoming a disguised conduit for capital flight from Italy.

The Bank of Italy’s Target2 liabilities on the other side of the ledger have climbed to €481bn.  

Ambrose Evans-Pritchard 4 June 2019





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