by Edward Hugh: Barcelonabr /br /Well that so called investor "risk appetite" took a surprise hit yesterday (and from an unexpected quarter). It wasn't the worries about US fiscal deficits that caused the panic, but problems in the European banking system. a href="http://ftalphaville.ft.com/blog/2009/06/16/57171/investor-fears-cut-risk-appetite/"Gwen Robinson reports/a:br /br /blockquoteRisk appetite suffered a sharp deterioration on Monday as fresh uncertainty about the global economy prompted investors to shift from equities, commodities and emerging market assets into the perceived safety of government bonds and the dollar. Markets were further unnerved by warnings on the economic outlook from the head of the IMF and an ECB report saying eurozone banks face another $283bn in writedowns on bad loans and securities this year and next./blockquotebr /As Izabella Kaminska notes, a href="http://www.facebook.com/ext/share.php?sid=117027956538h=wHY-pu=bc40uref=nf"it is Southern Europe that is now getting all the attention/a.br /br /blockquoteThis time it’s the turn of 25 Spanish banks, all of whose senior ratings ...