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Draghi Has Put a Gun to Politicians Heads: Pro

Friday, 3 Aug 2012 | 2:00 AM ET

"I think Mario Draghi has helped focus the minds of the politicians, the danger was that even if Spain and Italy did the right thing there wasn't enough fire power in the EFSF or ESM, Draghi said if you do the right thing I'm going to come in and help you, so he has effectively put a gun to their head," Bhanu Baweja, global head of EM research at UBS, told CNBC.