FAZ explains the Target2 bomb and it's going to kill ze Germans

Fasten your seat belts. Here comes the economics department of the FAZ IYIs.

TARGET BALANCES: Germany is sitting on a bomb

BY MANFRED SCHÄFERS , BERLIN- UPDATED ON 07.07.2018 - 19:11

"Target" - this was actually a technical system for processing payments in the euro area. But now Germany has paid almost 1 trillion euros too much. Money that could never come back.

Oh those Germans, what have they done to Target2? In the beginning it was sort of a giant Paypal based on euros. Then the Germans showed up and deposited "almost 1 trillion euros too much".

As everyone knows when you deposit funds into your own account, chances could be it "never comes back". Yeah, makes sense.

New old government in Greece and who is that mysterious yellow line?

OK, Greece is toast, but the ECB has just released the latest Target2 balances. Who is that mysterious yellow line hovering way up in the sky? This is supposed to be a monetary and economic UNION???

ECB