The balance sheet for the whole Eurosystem (including all the national central banks) shows almost half a trillion euros in capital and revaluation reserves.

FORBES: Revised TARGET2 Paper & Implications for ECB of Cyprus Exit

Germany's Bundesbank criticised the government's plan to cut its deficit by taking profit from a revaluation of gold reserves .

ECONOMIST: Jupp�� out

The snag is that a small revaluation is likely to increase expectations of another future appreciation, attracting yet more speculative capital and swelling foreign reserves further.

ECONOMIST: Economics focus