Do i need to play previous games of Final Fantasy to understand the current story?

Solution
No you dont. Each game has it's own story, characters, world, except the direct sequels. So of course if you plan to play FF 13-2, play 13 first then the sequel (and then 13-3 😛) This is only an issue for 10 and 13.
Also FF 14 is an MMO (quite good actually) so you will write your own story there!
Just for teasing you should take a look at the newly released FF 15 trailers!
No you dont. Each game has it's own story, characters, world, except the direct sequels. So of course if you plan to play FF 13-2, play 13 first then the sequel (and then 13-3 😛) This is only an issue for 10 and 13.
Also FF 14 is an MMO (quite good actually) so you will write your own story there!
Just for teasing you should take a look at the newly released FF 15 trailers!
 
Solution
Even I have become to much of a graphics baby to go back and play FF1 over again. Back then it was awesome, today...not so much. I really enjoyed FF Tactics though, even if it is way out dated.
 


You know i watched the Final Fantasy 15 trailer and then decided that i should play it 😛 and thanx for the answer though i didn't wanted to play all the 12 to understand the story.
 
Playing any game in the FF universe does not mean you will understand the story of the one you are playing. They are self contained stories, but they can get confusing as hell. Still entertaining, just confusing. Plus there is a lot of things in them that are poorly translated which can add to the confusion. Playing through FFX recently, while I am getting the larget concepts of the story, there have been several times I feel like I missed something. Kinda like a David Lynch film, takes multiple viewings and discussion to really know what was happening.

Just my opinion.