NO EU BAILOUT FOR GREECE, SAYS ECB'S STARK.

European Central Bank Executive Board member Jurgen Stark has ruled out a Greek bailout by EU member states, calling up the Lisbon Treaty's no bailout' clause to support his argument. Article 123 in the Lisbon Treaty states that "overdraft facilities or any other type of credit facility with the European Central Bank or with the central banks of the member states [...] in favour of Union institutions, bodies, offices or agencies, central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of member states shall be prohibited". In an...