Spain should appreciate the help it is getting from the European Union (EU) to fix its banking system, Spain's Prime Minister Mariano Rajoy said Wednesday.

"We should appreciate that our European colleagues are helping us," said Rajoy at a parliament session held for the first time to discuss the decision taken by the government to seek a bailout of up to 100 billion euros (about 126 billion U.S. dollars) from the EU.

The prime minister has been reproached by the main opposition party, the Spanish Socialist Party (PSOE), for not giving immediate explanations to Spanish people about this decision.

Last Saturday, Minister of Economy and Competitiveness Luis de Guindos announced the country's intention to ask for financial aid. Rajoy did not appear at a press conference until Sunday.

There are a lot of disagreements regarding the consequences the bailout could bring to Spanish society and policies.

Alfredo Perez Rubalcaba, leader of the PSOE, said Wednesday that the government should recognize that the bailout involves conditions and asked Rajoy to stop cutting public budgets to combat the economic crisis.

These conditions will be explained more in detail when the Spanish government request this "loan" and will appear in a report agreed by the Spanish and European authorities.

Deputy Prime Minister Soraya Saenz de Santamaria proposed to inform the parliament of the bailout through the subcommittee of the Fund for Orderly Bank Restructuring (FOBR), an organism in charge of channeling the loan from the EU to the banks.

Although uncertainties concerning how the bailout will be carried out are making the Spanish stock market more unstable, conditions will not be explained in detail until mid-July.