Evaluation of the financial costs of a Eurozone breakup depends critically on the interpretation of TARGET balances …. While it has been argued that TARGET claims in the Eurozone can be written off without incurring any losses on the claimants …

While the financial protection measures enacted by the ECB and the community of Eurozone members have calmed financial … markets, they have left the competitiveness problem of the Eurozone's southern countries and France unresolved. The paper …

paper shows that the pooling of primary interest income among national central banks in the Eurozone implies that Target and … decentralized monetary system of the kind characterizing the Eurozone. It also implies that the recording of Target balances in the … balance sheets of national central banks is compatible with fair value accounting. Highlights * The Eurozone's Target and cash …

"Though not initially expected or understood large movements in target balances at Eurozone Central Banks turned out to …