BACK IN RECESSION: Spain said it was back in recession, as the country's economy shrank 0.3 percent in the first quarter compared with the previous three months. The contraction follows a similar decline in the last three months of 2011.

NOT ALONE: This is Spain's second recession in three years.

AUSTERIY UNWELCOME: Spain now has 24.4 percent unemployment and a deficit of 8.5 percent as of the end of 2011, which it must reduce to 3 percent in 2013. On Sunday, tens of thousands people protested emergency reforms and austerity measures.


Due to the overwhelming enthusiasm of our readers it has become necessary to transfer our commenting system to a more scalable system in order handle the content.