The debate about the so-called target-2-System of Central Banks is focused so mainly on the monetary level. The Target 2 system ensures that works of payments between the central banks of the euro system. The significant expansion of the Target-2 balances in the balance sheets of the national central banks …
Surrounding the European debt crisis and the search for new institutional arrangements for the European Monetary Union increasingly gives the impression that Europe is no longer a vision. Only 49 percent of Europeans rate their country’s membership as positive and only 42 percent trust the European institutions. Nevertheless, Europe’s cultural …
The situation of the municipal budget has been deteriorating since the early 90s and it is increasingly dramatically. Perhaps those of you who know more about the problem they thought such a development. However, what are the reasons? This is due mainly to the sharp increase municipal cash advances. These …