What’s going to be the most over-used headline of 2012? That’s easy. The pain in Spain. Some of us are fed up with it already. Unfortunately, it isn’t about to go away any time soon. The pain just keeps on getting worse. Last week, the ratings agency Standard & Poor’s downgraded Spanish government debt by two whole notches. On Monday, the Spanish banks were downgraded, putting yet more pressure on the country’s beleaguered banking system. And now we learn that the country has gone back into recession, with two consecutive quarters of negative growth. It is looking more and more like another Greek-style ... (full story)