Sinn points out that the option of self-rescue for the crisis-affected countries by drawing TARGET credit forces Germany to approve the formal rescue facilities and eventually to accept eurobonds as well.
On Wikipedia it’s later argued that it is wrong, and for T2 I don’t know the numbers, but Target2 seems to me like a hidden approval by Germany of taking the risk. What else is pooling dept?
I assume Germany will veto this hard. We are very afraid of debt.
https://en.wikipedia.org/wiki/TARGET2
The intra-system balances.
The people don’t like dept but the politicians don’t mind.
TARGET2 has been replaced three years ago. It is essentially the payments mechanism for the euro. I don’t know why you post this here in this context.
On Wikipedia it’s later argued that it is wrong, and for T2 I don’t know the numbers, but Target2 seems to me like a hidden approval by Germany of taking the risk. What else is pooling dept?