Spain reiterates does not need bailout right now

Spain will only request a rescue that would involve the European Central Bank buying the country's debt on the secondary market if it is in the interest of Spaniards, Prime Minister Mariano Rajoy said, reiterating the country does not need a bailout now.

"We will use this mechanism only if it necessary to defend the interests of the Spanish people," Rajoy said in an interview with Spain's Cadena Ser radio on Friday.

"We do not need it today and that's why we haven't requested it," he added.

(Reporting by Clare Kane; Editing by Sarah White)