Mises Daily
Author:
Philipp Bagus
Online Publish Date:
Recently, there has been an intense debate in Europe on the TARGET2 system ( T rans-European A utomated R eal-time G ross Settlement E xpress T ransfer System 2 ), which is the joint gross clearing system of the eurozone. The interpretation of this system and its balances has provoked divergent opinions. Some economists, most prominently