On 1 January 2002, Spain terminated its peseta currency and replaced it with the euro, which it shares with 15 other countries in the Eurozone. Spain has also seen strong economic growth, well above the EU average, but concerns are growing that the extraordinary property boom and high foreign trade deficits of recent years may bring this to an end.

A series of bombs exploded in commuter trains in Madrid, Spain on 11 March 2004. After a five month trial in 2007 it was concluded the bombings were perpetrated by a local Islamist militant group inspired by al-Qaeda. The bombings killed 191 people and wounded more than 1800, and the intention of the perpetrators may have been to influence the outcome of the Spanish general election, held three days later.

Though initial suspicions focused on the Basque group ETA, evidence soon emerged indicating possible Islamist involvement. Because of the proximity of the election, the issue of responsibility quickly became a political controversy, with the main competing parties PP and PSOE exchanging accusations over the handling of the aftermath. At the 14 March elections, PSOE, led by José Luis Rodríguez Zapatero, obtained a large plurality, enough to form a new cabinet with Rodríguez Zapatero as the new Presidente del Gobierno or prime minister of Spain, thus succeeding the former PP administration.

Source: Wikipedia Encyclopedia

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