Reimers, Hayo - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 94 (2014) 2, pp. 133-141
competitiveness and subsequent current account deficits in the EMU’s periphery states, they now constitute a default risk for the core … competitiveness, they must not be neutralised by monetary policy. The ECB’s Target2 balances create precisely this neutralisation and …