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Italy's Target 2 liabilities hit new record high in November
December 7, 2017 / 10:02 AM / 7 days ago

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

MILAN, Dec 7 (Reuters) - Italy’s debt with the European Central Bank rose to a new record high in November, after falling the previous month, data from the Bank of Italy showed on Thursday.

Italy’s net debt towards the ECB’s Target 2 payment system, which settles cross-border payments in the euro zone, stood at 435.9 billion euros ($514 billion) in November.

In October it had fallen to 412.4 billion euros from 432.5 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. ($1 = 0.8483 euros) (Reporting by Giulia Segreti)

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