Sauer, Beate; Sell, Friedrich; Werner, Thomas - In: International Advances in Economic Research 20 (2014) 4, pp. 357-367
The Trans-European Automated Real-Time Gross settlement Express Transfer system (TARGET) imbalances within the Eurozone can be interpreted as a sign of a missing balance of payments adjustment mechanism for the member countries. As the Eurozone lacks a fiscal union, in theory it is more of an...
