No bail out request from Spain says Rajoy

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No bail out request from Spain says Rajoy

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Spanish Prime Minister, Mariano Rajoy and his Italian counterpart Mario Monti have pledged renewed support for Greece with a commitment to do all they can to keep the debt ridden country in the euro.

The two leaders were speaking after an official meeting in Madrid. Despite constant focus on a bail out for Spain, Mariano Rajoy stressed that at this point he would not be seeking a rescue package.

“At the moment the Spanish Government hasn’t asked for a bailout and that is because we think that it is not essential for the general interest of the Spanish people,” he said.

Mario Monti has had to contend not just with a fragile economy but new battle lines drawn by his predecessor, Silvio Berlusconi.

The former PM said the cabinet was leading Italy into a “spiral of recession” and that his centre-right PDL party would decide in the coming days whether it would end its support.

“I think the best thing we can do is continue to work with the election in the spring next year on the horizon, that has always been our intention,” he said.

The PM will work to those elections amid unrest at his policies. Tens of thousands took to the streets in Rome on Saturday angry at the governments austerity measures. The demonstration was dubbed, “No Monti Day” and included members from the extreme left, the unemployed and union bosses.