Spain is one country feeling the recession the most with 6 million out of work. 56.5% of young people cannot find jobs and protest in Madrid squares.
Numerous debts, a banking sector in trouble and its uncompetitive place in the eurozone are all contributing factors to the decline.
This article about the Spanish city of Jerez highlights a desperate city that seems to be going into a downward spiral.
Will austerity measures in the upcoming year help or hinder?