Second cheap money round hard to resist for Europe banks

Newswire

By Gabriella Bruschi and Steve Slater MILAN/LONDON, Feb 29 (Reuters) - A feeding frenzy on cheap European Central Bank funding, led by Italian banks such as Intesa Sanpaolo and even non-euro zone rivals like Lloyds, offers a quick fix but a longer-term headache. Some 800 banks, including the financing arms of several carmakers, took advantage of Wednesday's 529 billion euros ($710 billion) of cheap money. Italian banks took more than 130 billion euros, a source said, and their Spanish ...

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