target 2


Myths and legends of TARGET 2

Luis Martí, in Madrid | It stands for Trans-European Automated Real-time Gross Settlement Express Transfer. TARGET2 is a key payment mechanism to European monetary union because it allows all transactions denominated in the common currency to be implemented as easily between member countries as within one country. Otherwise, it would be difficult to talk about common currency. Since the effects and implications of this mechanism are the subject of heated controversy,…