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- W3012553204 abstract "The euro area sovereign debt crisis sparked an outflow of bank deposits from countries in the periphery to commercial banks in Germany and other core countries. The outflow highlighted a key aspect of the payments system linking national central banks in euro area countries. In particular, net outflows from private commercial banks in a given country are matched by credits to that county’s central bank, with those credits extended by central banks elsewhere in the euro area. In this post, we explain how the credits affected the adjustment pressures faced by countries in the euro area during the ongoing debt crisis." @default.
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- W3012553204 date "2011-01-01" @default.
- W3012553204 modified "2023-09-23" @default.
- W3012553204 title "Central Bank Imbalances in the Euro Area" @default.
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