Spanish Prime Minister Mariano Rajoy said he has no plans to request a bailout soon, fending off mounting speculation that a bid was near.

Asked at a press conference in Madrid today if a bailout request was imminent, Rajoy said: “No.”

Rajoy is weighing the terms of a Sept. 6 proposal by the European Central Bank President to buy bonds of cash-strapped nations including Spain if they make for a formal aid request from the euro region’s government-run rescue funds. Reuters news agency yesterday reported that Spain is ready to seek a bailout as soon as this weekend.