Spain began funeral ceremonies for Adolfo Suarez, the prime minister who in the 1970s led the nation into democracy from dictatorship. The government declared three days of mourning with state flags at half mast.
King Juan Carlos and Prime Minister Mariano Rajoy led mourners commemorating the 10th anniversary of the train bombings in Madrid that killed more than 190 people in Spain’s most lethal terrorist attack.
In December 2010, Bank of Spain inspectors delivered a report to their bosses about Caja Madrid savings bank that was grim: The bank faced losses of almost 5 billion euros ($6.8 billion) and needed new leadership.
Spain’s deepest budget cuts in 30 years may be just the start of a U-turn by Prime Minister Jose Luis Rodriguez Zapatero that’s already sent his popularity plunging and prompted calls for a general strike.
Spain must overhaul its pension system, raising the retirement age and changing the way payments are calculated, Prime Minister Jose Luis Rodriguez Zapatero said, as the country tries to put its public finances in order.