exceedingly better in respect to the underlying theory than the stock variable. This result has vast implications for the conduct …

Since September 2015, the European Central Bank has been publishing Target2 balances of the eurozone national central …) were written off, other eurozone countries would bear the loss, in addition to losses on official loans. There is no … effective mechanism for limiting eurosystem debts. And exit risk – the risk that Greece or some other eurozone country with …

Greek borrowing from the eurosystem, for as long as Greece stays in the euro.Eurozone governments would only escape from …