Spain PM says bailout likely without austerity plan

20/05/2011 - 7:52

MADRID (Reuters) - Spanish Prime Minister Jose Luis Rodriguez Zapatero said on Friday it is very probable the country would have needed a bailout if the government had not implemented its austerity package in May 2010.

For the last five days young people have been staging massive protests across Spain, angry about the austerity measures and rising unemployment, ahead of the May 22 municipal and regional elections.

Spaniards elect 8,116 city councils and 13 out of 17 regional governments on Sunday when the ruling Socialist party is expected to take a drubbing over its handling of the economic crisis, before general elections scheduled for March 2012.

Some analysts had speculated that Zapatero might call early elections if the outcome of Sunday's polls is very negative for the ruling Socialists, but the Prime Minister reiterated in an interview on la Ser radio on Friday that he believes electoral mandates should last for the full four years.

(Reporting by Judy MacInnes)