British daily Financial Times (FT) has intensified its attention on Spain with five out of seven stories on the FT's distinctive pink front page covering the ailing nation around a large head-shot of President Mariano Rajoy.

The main write-up in "the Pink 'Un" explains that the European Union (EU) authorities are working behind the scenes to prepare for a new Spanish rescue programme. The EU is said to be in talks with Spain over the terms for a bailout although Rajoy is reluctant to request assistance due to the conditions that would likely be attached.

The talks mostly cover the measures that would be demanded by international lenders as part of a new rescue programme, the daily reports, citing official sources. The plan is said to focus on the structural reforms long requested by Brussels instead of new taxes and spending cuts. The plan may be unveiled next Thursday.

One senior European official said negotiations have been conducted directly with Spanish finance minister Luis de Guindos.

MG

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