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Spain is paying a hefty price for its broken political system and is rapidly becoming the euro’s problem child.

It used to be Italy that was seen as the bigger risk.

For years, officials in the rest of Europe have been able to turn a blind eye to the acrimony and dysfunction in Spain as the economy kept humming along. 

But after the euro’s fourth-biggest economy plunged into Europe’s worst recession yet, they are being forced to take a closer look.


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