ECONOMY

Greece’s liabilities to eurozone banks drop in August

greece-s-liabilities-to-eurozone-banks-drop-in-august

Greece’s net liabilities to the eurozone’s bank payment system decreased slightly in August while Germany’s net claims rose further, data from the European Central Bank showed on Thursday.

The Target 2 system facilitates payments between banks in different eurozone countries by channeling them through each national central bank’s account at the ECB.

The latest data show payments by Greek banks to institutions in other eurozone countries exceeded flows in the opposite directions by 101.64 billion euros.

[Reuters]