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9/2/12

Bankers bash each other in battle for the euro - by Paul Ames

Draghi vs. Weidmann doesn't have the same ring as Ali vs. Frazier or King Kong vs. Godzilla, but when it comes to the fate of the euro, it’s a battle between the two biggest beasts of European banking.

Mario Draghi, president of the European Central Bank, is poised next week to put flesh on the bones of his pledge to "do whatever it takes" to save the European currency.

He wants to empower the ECB to use its vast financial firepower to buy an unlimited number of bonds from high-debt countries that can no longer affordably raise money on the markets.

It's seen as an essential step to propping up the tottering finances of Spain and possibly Italy.

Read more: Bankers bash each other in battle for the euro | GlobalPost

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