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Europe – which countries are lending, and which are borrowing?


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For the longest time, France (red) was a non-entity in the Eurozone's TARGET2 balances. 


But that's changed in recent years, with France becoming a debtor country. As a result, Germany's creditor balance is unchanged, even as Italy has been able to reduce its debtor balance...


And what about the other countries?

 




Source: Robin Brooks

 
 
 

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