BIS Blames ECB for Rising Target2 Imbalances: Fear of Default

mishtalk.com / Mike “Mish” Shedlock / March 7, 2017

In the latest BIS Quarterly Review, the BIS points a finger at the ECB for rising Target2 imbalances.

That sounds highly accusatory, but the BIS also claims this is a “benign by-product of the decentralized implementation of the asset purchase program (APP) rather than as a sign of renewed capital flight.”

I strongly disagree that any of this is “benign” unless and until someone can tell me precisely how Italy, Spain, Greece, etc., are supposed to pay back the claims.

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Read more ... source: The Bitcoin Channel

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