Policy insights

Policy Insights

Policy Insight 57: The implications of intra-euro area imbalances in credit flows

The Eurozone money transfer system, TARGET2, has huge imbalances whose meaning is subject to much debate. This Policy Insight by Citigroup Chief Economist Willem Buiter and co-authors argues that the imbalances show some banks can't fund themselves without public support.

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Citation

Buiter, W, E Rahbari and J Michels (2011), Policy Insight 57: The implications of intra-euro area imbalances in credit flows, CEPR Policy Insight No 57, CEPR Press, Paris & London. https://cepr.org/publications/policy-insight-57-implications-intra-euro-area-imbalances-credit-flows