I had a post a month ago Banco de España’s TARGET2 Liabilities and this gets more interesting a month later. The bank released numbers for February and it seems capital flight is continuing from Spain and Spanish banks’ borrowing from the ECB rose in February. The following is from BdE

(click to enlarge)

The Spanish general government debt also continues to rise

(click to enlarge)

With Spain’s net indebtedness (not gross government debt) of €995bn to the rest of the world and having surrendered monetary sovereignty, this is not the best time for the nation – to say the least!