Spain's hangover

The jury is out on whether Spain will get through the economic crisis in a better or worse state than the rest of the world, but any downturn is going to feel like a disaster in comparison with the unprecedented boom of the past twenty years or so. At least they don't have to give all the EU money back, as they've already spent it on roads, railways and, probably, excellent shellfish. Interesting article from The Economist here. It's so beautifully written it makes me want to subscribe. And use words like fissiparous and autarky whenever possible.