Contrary voices from the growing consensus that the ECB's LTRO has saved the day argue it will...

|By:, SA News Editor
Contrary voices from the growing consensus that the ECB's LTRO has saved the day argue it will not work past the short-term. Earnings from the carry trade are not enough to improve bank capital ratios, meaning additional sovereign holdings are crowding out other assets. It's something to keep in mind amidst chatter February's operation may blow through €1T.