If ECB Fails to Buy Time, We Are in Serious Trouble: Expert

2:00 AM ET Thu, 2 Aug 2012

"Perhaps it is a good thing that market expectations have gone down a bit because in the immediate aftermath of his speech last Thursday I thought markets were getting somewhat over excited given the political hurdles that exist across Europe, most of the challenges still rest in the political," Alastair Newton, senior political analyst at Nomura, told CNBC.