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Italy's Target 2 debt falls in October
November 8, 2017 / 10:55 AM / 15 days ago

Italy's Target 2 debt falls in October

MILAN, Nov 8 (Reuters) - Italy’s debt with the European Central Bank fell to 412.4 billion euros ($478 billion) in October after hitting a record high in September, Bank of Italy’s data showed on Wednesday.

Italy’s net debt towards the ECB’s Target 2 payment system, which settles cross-border payments in the euro zone, stood at 432.5 billion euros in September.

Euro zone countries’ Target 2 positions are monitored because they highlight imbalances within the bloc and the potential for colossal sovereign defaults were it to fall apart, as that debt would then need to be repaid. ($1 = 0.8623 euros) (Reporting by Francesca Landini, editing by Giulia Segreti)

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