I thought this article was interesting it is basically saying the Eurozone central bank payment system TARGET is a bottleneck for payments across the Eurozone and that delay is hiding the true extent of the debt across the weaker states. In other words the bottleneck is creating a hiding place for the true extent of debt. http://www.cobdencentre.org/2012/04/targeting-problems-in-eurozone/ What do you think?
Erm, you're a bit late to this party, senor... This TARGET2 discussion has been going on for nearly a year now. And no, it's not a bottleneck, not a delay and it ain't hiding anything. How can it be hiding smth if this is information that's widely available and regularly published on a variety of websites?
Well the author of the piece claims it is hiding something. Are you saying the story is miss informed?
Well, I am saying that the story is using the wrong terminology. You can't really claim something is hidden if a) the data is public; b) lots of people interpret the data every which way. The discussion of TARGET2 imbalances is sort of a mainstream thing in Germany at the moment, with Hans-Werner Sinn as the unlikely hero.
My book has been published now. You can read that. http://www.waterstones.com/watersto...is+european+single+currency+weakness/9092057/