Ceci vient de chez Mish, MishTalk.com
L’argent fuit à nouveau l’Italie et l’Espagne. Mish s’étonne des entrées en France. Elles s’expliquent parce que les banques Allemandes se montrent maintenant dissuasives et il se dit que l’Allemagne confisquera l’argent entré chez elle. On sait que la France est très « reluctante » à l’égard des bail-ins, ceci explique cela.
Money continues to pour out of Italian and Spanish banks for safer havens. This month I note a curious side effect: A huge amount of money went into French banks instead of German banks. The following table shows the winners and losers.
Target2 Imbalances in Billions of Euros
| Country | Symbol | Dec Target2 Balance | Nov Target2 Balance | Month-Over-Month Change | Comment |
|---|---|---|---|---|---|
| Spain | ES | -254.1 | -241.8 | -12.3 | Highest Since 2012 |
| Italy | IT | -248.9 | -229.6 | -19.3 | Highest Ever |
| Greece | GR | -94.4 | -97.3 | 2.9 | Lowest Since 2014 Q4 |
| ECB | ECB | -83.8 | -73.8 | -10 | Highest Ever |
| France | FR | -29.2 | -73.5 | 44.3 | Remarkable Comeback |
| Germany | DE | 584.2 | 592.5 | -8.3 | Second Highest Since 2012 |
| Luxembourg | LU | 147.6 | 140.4 | 7.2 | Highest Ever |
| Netherlands | NL | 54.7 | 49.4 | 5.3 | Highest Since 2002 |
| Finland | FI | 20.1 | 31.8 | -11.7 | Lowest Since 2014 Q4 |
| Cyprus | CY | 2.4 | 2.4 | 0 | Second Highest Ever |
I created the above table using data from the ECB Statistical Data Warehouse
brunobertez 