Originally with our idea of ‘tracking’ posts, we began them with a discussion or preamble followed by a chronology that is updated as news-worthy events come in. We have decided to reverse the structure so the reader has ready access to the latest events. Below are what we consider to be major events leading to a Spanish default on debt, possible political revolution and withdrawal from the eurozone.

Keeping a Running Tab on the Situation

• 20130530: Mike Shedlock reports: Spain Records Largest First Quarter Deficit in History; Tax Revenues Plunge 6.7% Year-Over-Year; Surprising Comments from German Finance Minister Wolfgang Shäuble.  So the depression in Spain deepens.