European Economic and Monetary Affairs Commissioner Olli Rehn spoke with Bloomberg TV's Sara Eisen today and said that Spain's government is considering a request for a bailout. Rehn said, "The Spanish government has an open mind on this issue, but no decision has been made. We stand ready to act if there is a request."

Rehn also said that "negative bond yields are not a healthy phenomenon. They're not good for Germany or Finland or Belgium. They are a sign that the euro zone economy is not doing well."

Rehn on the Commission being ready to act on aid request:

"The commission is ready to act in order to design and monitor conditionality in order to make it accountable and the euro area states have stated that they are ready to use the existing instruments in order to conduct short-term market stabilization...We stand ready to act in case there is a request by a member state. My understanding is that the Spanish government has an open mind on this issue but no decisions have been made."

On whether there's a quick fix to solve Europe's problems:

"Unfortunately there is no quick fix. There is no single issue movement that can solve this problem. It requires patient work in terms of improving fiscal prudence and at the same time promising structural reforms to restart economic growth and in the meantime you need short-term stabilization and that's why the decisions of the euro area member states as well as of the ECB are so important."

On rebuilding the foundations of the euro zone:

"The next few months will be important because we will focus both on short-term market stabilization and at the same time on rebuilding the foundations of the euro zone."

On what's happened over the past month:

"We have had a calm August so let's not stir August further and let's try to have a boring August so that even the market forces can have some holiday in the second half of August."

On Greece leaving the euro:

"In my view it is much better for Greece and Europe that Greece will stay as a member of the euro zone. That's what we are working on and that's what the Greek government is working on by meeting the conditions that have been set for receiving further assistance from the euro zone."

On economic imbalances in the EU:

"We have still very significant imbalances in the European economy and then negative bond yields are not a healthy phenomenon. They're not good for Germany or Finland or Belgium in a sense they are a sign the euro zone economy is not doing well so therefore the key issue is indeed to restore competitiveness and sound public finances."

On the most troubling economic indicator in Europe right now:

"The most troubling economic indicator is the unemployment rate, which is certainly too high in Europe. And over the whole euro zone, member states and institutions, we in due course will be measured of whether we will be able to reduce unemployment and improve economic growth, sustainable growth."

On whether he worries about social unrest:

"I worry about the consequences of the current debt crisis, which has been going on for too long. While it is true that there is no quick fix and it takes some time before the rebalances can be corrected, at the same time it is important we take on the short-term market stabilization, if needed, including on some public finances in the member states, reforms like labor markets in the member states. We can revive the European economy and get out of this crisis."