Large increases in TARGET2 balances in the euro area since 2008 have led to concern and debate about the appropriate … the main drivers of the increases and asymmetries in TARGET2 balances that have emerged in the context of the financial …, there can be direct risks in the form of default losses of TARGET2 balances and indirect risks in the form of threat …

Large increases in TARGET2 balances in the euro area since 2008 have led to concern and debate about the appropriate … the main drivers of the increases and asymmetries in TARGET2 balances that have emerged in the context of the financial …, there can be direct risks in the form of default losses of TARGET2 balances and indirect risks in the form of threat …

built-up of TARGET2 balances was mainly driven by capital flow shocks while being barely responsive to other aggregate … systems in the euro area to the ECB's unconventional refinancing operations that led to the accumulation of large TARGET2 … balances, has contributed to the propagation of different types of structural economic shocks as well as to the historical …

built-up of TARGET2 balances was mainly driven by capital flow shocks while being barely responsive to other aggregate … systems in the euro area to the ECB's unconventional refinancing operations that led to the accumulation of large TARGET2 … balances, has contributed to the propagation of different types of structural economic shocks as well as to the historical …

the Target 2 balances of countries such as Germany and Italy - requires a profound rethinking of the European project in …

the Target 2 balances of countries such as Germany and Italy - requires a profound rethinking of the European project in …

only limited tensions. These findings speak to the current debate over TARGET2 balances in Europe. JEL Classification: F30 …