Capital Flight Intensifies From Italy, Spain
The ECB statistical data warehouse released Target2 Balance figures today. The numbers are reflective of intensifying capital flight in Italy and Spain.
The above charts shows most of the major countries, not all of them.
Italy’s target2 hit a record low -€326.9 billion in July. This is a 6th consecutive monthly record for Italy, minimum, possibly dating back to 2nd quarter of 2015.
Spain’s target2 deficit hit -€313.6 billion. In 2012 Spain hit -€337.3 billion.