The banking system, a giant settlement infrastructure


A few weeks ago I noticed a tweet from one of the most interesting accounts I follow on Twitter, that of Holger Zschaepitz:  Oops! Italy's Target2 liabilities have hit fresh ATH at €513bn. This increases the threat potential of the Italians. If #Italy were to leave the eurozone, the bulk of its liabilities would be lost. pic.twitter.com/LnDw5j1tlk— Holger Zschaepitz...