This irreverent piece from Joan McCullough waltzes through a lot of sources. Scandal is rearing its head in Spain. Corruption is alleged. Etc. A short four pages, but it gives you an idea of the local flavor. It sounds a lot like what we read about Greece a few years ago, only Spain's banks are in much worse shape. Excerpt: "More good news from Spain: … “Consumer spending collapsed in April, down 11.3% on last year, and now reaching 22 consecutive months heading south. It’s the largest reduction since February 2009. Employment in shops fell in all regions of the country with the exception of La Rioja (a northern province) … Swiss pharmaceutical company ROCHE has said it is to limit its credit to 11 Spanish hospitals, but it has backed down from cutting supplies. The company wants to avoid any increase in bad debt…. The export of food from Spain has overtaken the export of cars for the first time. The crisis in the Eurozone has hit the sales of cars manufactured in Spain, while the food industry has been pushing their international sales."