ECB chief economist Stark is on the wires saying it is unnecessary to discuss extra measures for countries in trouble. A mechanism to provide support would be incompatible with the rules of monetary union.
Greece has taken an important step in the right direction with its budget plan, Stark says. Now that the situation is stabilizing the ECB has to gradually pull back financial system support measures.
The EU is unmoved on the comments, consolidating the week;s massive losses at 1.3660.
