ECB’s Stark: EU won’t bail out Greece


Investors are wrong to think the EU will ride to the rescue of Greece to prevent a sovereign debt crisis, Jürgen Stark, a member of the European Central Bank's (ECB) executive board, has warned.

Stark, seen as among the most fiscally cautious figures in Frankfurt, told Il Sole 24 Ore, an Italian newspaper, in an interview published Tuesday: "Monetary union does not imply some financial right to receive support from other member states."

He added: "Greece has failed to control spending and improv

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