Equally important, but largely unknown, is the fact that the Banca d’Italia has resorted to the printing press to cover Italy’s gigantic balance of payments deficit. The extra money printing and lending, as measured by the so-called Target deficit, effectively means drawing a credit from the ECB.
但债券购买行为只是冰山一角。同样重要但不为人知的是，意大利央行已经重启印钞机来解决意大利巨额国际收支赤字问题了。这些多印出来的并成为贷款的钞票——可以用所谓的“目标”赤字来衡量——实际上无异于从欧洲央行那里得到信用。