January 8, 2018 / 1:36 PM / 5 months ago

Italy's Target 2 liabilities hit new record high in December

MILAN, Jan 8 (Reuters) - Italy’s debt with the European Central Bank rose to a new record high in December, data from the Bank of Italy showed on Monday.

Italy’s net debt towards the ECB’s Target 2 payment system, which settles cross-border payments in the euro zone, stood at 439.02 billion euros ($526 billion) in December.

In November it rose to 435.9 billion euros from 412.4 billion euros in October.

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. ($1 = 0.8352 euros) (Reporting by Giulia Segreti)

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