With the power to create money, Mr Draghi owns the biggest gun of all.

ECONOMIST: Charlemagne

Take it away from them, but leave them the power to create money and control credit, and with a flick of a pen they will create enough to buy it back.

FORBES: Is The Federal Reserve Using Money-Laundering Techniques To Cleanse Banks' Balance Sheets?

But they do doubt that Spain or Italy can generate the euros they need, because -- unlike the U.S. or Japan or Britain -- Spain and Italy lack the power to create their own money.

CNN: How the euro crisis will affect you

Greater Birmingham and Solihull LEP (GBSLEP) and the Birmingham Chamber of Commerce Group will look to identify areas where local ventures are likeliest to create jobs and regenerate communities were they to be given the necessary power and access to money.

BBC: Lord Heseltine