06-08-2018, 01:48 PM
Not good, this..
THE Bank of Italy’s debts to eurozone central banks rocketed to an all-time high of €465bn (£408bn) in May as anti-euro insurgent parties prepared to take power, a clear sign that foreign investors have begun to pull large sums of money out of the country. The institution’s Target2 liabilities within the European Central Bank’s payment nexus jumped by €39bn in a single month. This was almost certainly precipitated by the shock decision of the alt-Left Five Star Movement and hard-Right Lega nationalists to forge a coalition, armed with a subversive “minibot” parallel currency.
Capital flight from Italy surges, pushing Target2 imbalances to danger level
See our article about Target 2 imbalances here