Greece's net liabilities towards Target 2 system down in August
Greece's net liabilities towards Eurozone's payment system Target 2 fell to 101.6 billion euros in August, from 106.1 billion in July, the European Central Bank said on Thursday.
The Target 2 system facilitates payments between banks in the Eurozone area, by channeling these payments through the account held by each national central bank with the European Central Bank. The latest data showed that payments by Greek banks to other Eurozone member-state banks surpassed payments the other way around. The country's net liabilities reached 107.7 billion euros at the end of last July -the highest level since the end of 2012- after the Greek government imposed capital controls on bank transactions.
