Spanish PM: Bailout Not Imminent

Going against what many are thinking

Spain's prime minister, Mariano Rajoy, has ruled out a multi-billion eurobailout before this weekend, despite the worsening economic situation and pleas from Madrid's neighbours for a resolution to the current crisis.

Rajoy dismissed persistent speculation at a meeting of MPs that he was close to negotiating a rescue package with Brussels that could release up to €400bn in EU loans.