Eurozone crisis: Spain secretary says no rush for bailout request

MADRID: Spain is not in a rush to make a decision on whether or not it will request European aid thanks to new market calm, Secretary of State for the Economy Fernando Jimenez Latorre said on Wednesday.

He also said the time had not yet come to make a decision on adjusting Spaniard's pensions to inflation, while authorities would formalize the amount of bank participation to a liquidity credit line of up to 18 billion euros in the coming days.

Spain's 17 autonomous regions, which along with city halls control around 50 percent of public spending, almost all overshot their deficit targets last year and economists say they could fail to meet their budget cutting obligations this year.