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Question 6 Assuming that a Portuguese (in Country 1) purchases a washing machine from Germany...

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Finance

Question 6

Assuming that a Portuguese (in Country 1) purchases a washing machine from Germany (country 2) with the bill of 900, explain or draw T-accounts of the central bank refinancing within the Eurosystem.

(You can use at most 5 parties: Country 1 Bank A, Country 2 Bank B, NCB1 (National Central Bank Country 1), NCB2 (National Central Bank Country 2) and ECB ( European Central Bank)

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