The European Union is urging Spain to accept that it must seek an international bailout, El Pais reported, citing officials in Brussels without naming them.

Spain will need a bailout because investors won’t lend the government the money required to recapitalize the banking system, the newspaper cited one official as saying.

To contact the reporter on this story: Ben Sills in Madrid at bsills@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net