Germany Tells Spain to Wait on Bailout Request

Finance Minister says Spain is taking all the right steps and should wait to see what happens

Spain is ready to request a euro zone bailout for its public finances as early as next weekend but Germany has signaled that it should hold off, European officials said on Monday.

The latest twist in the euro zone's three-year-old sovereign debt crisis comes as financial markets and some other European partners are pressuring Madrid to seek a rescue program that would trigger European Central Bank buying of its bonds.

"The Spanish were a bit hesitant but now they are ready to request aid," a senior European source said. Three other senior euro zone sources confirmed the shift in the Spanish position, all speaking on condition of anonymity because they were not authorized to discuss the matter.