Spain is considering obtaining help from the ECB's bond-buying programme but is not planning a full sovereign bailout, Prime Minister Mariano Rajoy was quoted as saying in Finnish newspapers.
Last week the ECB agreed to launch a new bond-buying programme to lower struggling euro zone countries' borrowing costs.
Spain is suffering from a widening fiscal gap and pressure from the business community and credit rating agencies.
The country has secured European rescue funds of up to €100 billion for its troubled banks.
"In addition to growth, the only option I am considering is using the central bank's announced mechanism," Rajoy said, according to Helsingin Sanomat.
"It is completely outruled that we would ask for a bailout for the whole country," he told business daily Kauppalehti.
Mr Rajoy repeated that his government will carefully study the strings attached to the ECB's bond programme, but added he would not be told what to do with the budget.
"I am prepared to decrease the deficit. But others cannot decide how it will be reduced," he said.
