European Sovereign Risk Soars As Bank Contagion Spreads

Tuesday, February 9, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
02/09/2016

The ECB’s “whatever it takes” ponzi strategy of keeping the dream alive in Europe’s financial system has finally been caught as rapid collapse in the banking system is contagiously spreading to peripheral sovereigns once again. Portugal risk spreads are up 120bps in the last 3 weeks and Spain and Italy are soaring over 35 and 50bps respectively as the almost self-dealing nature of banks buying “risk-free” EU bonds and repoing for cash via The ECB comes home to roost…

The Rest…HERE

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