mishtalk.com / Mike “Mish” Shedlock / March 3, 2017
A quick perusal of Target2 Balances for January shows capital flight from Italy and Spain to Germany intensified again.
German target2 imbalances exceed levels hit in the Eurozone crises in 2012. Things improved considerably after ECB president Mario Draghi made his famous statement “Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough”.
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