Far from using cheap ECB money to fund governments, large EU banks like Barclays (BCS), Lloyds...

|About: Barclays PLC (BCS)|By:, SA News Editor

Far from using cheap ECB money to fund governments, large EU banks like Barclays (BCS), Lloyds (LLG), and Credit Agricole (CRARY.PK) are having their subsidiaries in the periphery borrow to fund themselves so the parents can stop shoveling money in. "It doesn't signal confidence," says Pimco's Philippe Bodereau.