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Home>TARGET2: A Channel for Europe’s Capital Flight

TARGET2: A Channel for Europe’s Capital Flight

Perspectives Content Submission

Mon, 5 Mar 2012

​The EU’s loans to Greece, Ireland and Portugal are just the tip of the iceberg of a fledgling transfer system that is creeping into the eurozone via the back door. A far bigger and implicit subsidy is growing beneath the surface in the form of TARGET2. Its full name is more than a mouthful. Trans-
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