Rajoy expects EU to act resonably over possible bailout

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Rajoy expects EU to act resonably over possible bailout

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Spanish Premier Mariano Rajoy has said he expects reasonable conditions to be set by the European Union should the country request a bailout.

In his first television interview since winning power nine months ago, Rajoy added no decision over further financial help had yet been made but went on to pledge pensions in any case would not be touched.

“I am not going to announce what are the red lines. What I believe is that we need to cut the public deficit, it is our commitment, it is the most important challenge and the most basic obligation that we have as a country for the next few years. I would not like and I would not accept being told in what policy areas we have to make or not make cuts. I believe that Spain needs to cut its public deficit like France and other European countries,” said Prime Minister Rajoy.

Rajoy has already pushed through billions of euros of austerity measures including raising VAT on school equipment sparking pupil and parent protests.

Spain has already received up to 100 billion euros to shore up its ailing banks. A decision over an expected further bailout request could come next week.