"This is turning into a disaster for the EU periphery," says RBS' Andrew Roberts, who notes...

|By:, SA News Editor

"This is turning into a disaster for the EU periphery," says RBS' Andrew Roberts, who notes Spanish and Italian banks are "deeply underwater" on their LTRO-enabled purchases of sovereign debt. "What the LTRO has done is concentrate systemic risk even further," argues Guy Mandy from Nomura. "If everything goes wrong, it could go wrong in a hurry."