Spain's PM says no decision yet on ECB bailout

MADRID (AP) - Spain's prime minister said on Monday he had yet to decide whether to accept a European Central Bank (ECB) bailout offer, insisting what was more important was to continue reducing the deficit through austerity measures and tax hikes.

In his first television interview since he was elected to office in November, Mr Mariano Rajoy said he was not yet ready to say if the ECB's offer was "necessary or convenient."

"We must see if it really is necessary and what the conditions are," he said.

He added that he needed to study the conditions attached and that "there are certain red lines" he was "not prepared to cross." He didn't elaborate on what those might be.