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No need of bailout package from eurozone: Spain

MADRID – Spain s Prime Minister Mariano Rajoy insisted Friday that his country currently had no need of a bailout from the eurozone to fix its public finances.

This indicated that Spanish banks were finding it easier to raise money on regular financial markets, a sign of recovering confidence in the sector whose collapse has fuelled a bitter recession in Spain.

Other data from the Spanish central bank Friday showed that Spain s public debt rose to a fresh record at 77.4 percent of gross domestic product in September and was forecast to reach at least 85.3 percent by the end of 2012.

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