The Pain in Spain

The results of the Spanish general election - suggests that just about all have won prizes except Spain's ruling socialists - who went down to their worst defeat since 1975.

Spain's centre right Popular Party (PP) - won 44.62% of the vote and secured an overall majoprity of 186 seats - in the 350-seat lower house of parliament.

The various nationalist parties in Catalonia and the Basque country also did well - along with the Commumist Party which made something of a comeback - benefiting from the collapse in the socialist vote.

Spain's ruling socialist government felt the backlash of angry voters - slumping to only 28.72% of the vote and 110 seats.

The leader of the Popular Party - Mariano Rajoy - has so far preferred sound bites to detailed policies and said in the wake of a famous victory:

"There won't be any miracles. We never promised any. We will stop being part of the problem and will be part of the solution.

We can only go forward if we all go forward together. Forty-six million Spaniards are going to wage a battle against the crisis."

Which seems to be code language for Spain tightening its belt - living within its means - and beginning to repay its debts - despite high levels of unemployment in the country which are the highest in Europe.

We shall see.

But one thing looks certain - things are going to get worse before they get better.