Purificato, Francesco; Astarita, Caterina - In: International Journal of Financial Studies 3 (2015) 4, pp. 482-509
working as lender of last resort for the euro area member States; indeed, only when the ECB took this responsibility by …This paper analyses the issue of the dynamics of the TARGET2 system balances during the sovereign debt crisis, when … TARGET2 are here explained as being due to a fall in the level of confidence in the capacity of the Economic and Monetary …