No need to worry about Spain, EU leaders say

There is no need to worry about Spain's public finances, European Union leaders said Wednesday ahead of their regular summer summit, dpa reported.

Reports have spread this week that Spain might need an EU bailout because of the weakness of its savings banks, but EU officials deny the idea heatedly.

"I don't have any indication that Spain will be in a position where it has to ask for use of the (safety net) we have put in place. Rumours have been really unfriendly to Spain," Luxembourg's premier, Jean-Claude Juncker, said.

EU leaders meet in Brussels on Thursday for a summit intended to focus on long-term planning. Ahead of the meeting, reports spread that Spain might ask for help at the summit.

"I assume that there is no reason to be worried about Spain. The Spanish prime minister has said that he will succeed in tackling all the challenges of budget consolidation," Austrian Chancellor Werner Faymann said.