March 7, 2018 / 9:51 AM / in 10 months

Italy's Target 2 liabilities hit new record high in February

MILAN, March 7 (Reuters) - Italy’s debt with the European Central Bank rose to a new record high in February, data from the Bank of Italy showed on Wednesday.

Italy’s net debt towards the ECB’s Target 2 system, which settles cross-border payments in the euro zone, stood at 444.42 billion euros in February after easing to 433.21 billion euros in January.

It had set the previous record in December at 439.02 billion euros in December.

Euro zone countries’ Target 2 positions are monitored because they highlight imbalances within the bloc and the potential for colossal sovereign defaults were it to fall apart.

Reporting by Giulio Piovaccari, editing by Valentina Za

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