And increasing numbers of Spaniards, too proud to go to a soup kitchen, are looking for food in dumpsters at night.

Too Big to Bail

Spain is Europe's fourth largest economy. It's been dubbed, "too big to fail, too big to bail." But Spain needs a bailout too and has had to join Greece in instituting sharp cuts in welfare.

That means the "good life" of cradle-to-grave socialism that Spaniards were accustomed to -- and that created the debt that caused this crisis -- is coming to an end.

Spain's central bank said its economy continues to shrink "significantly," sending markets down, borrowing costs up, and protestors into combat with the government.

"This is just a powerful signal that we are sending to politicians to let them know that the Spanish bailout is suicide and we don't agree with it, and we will try to prevent it happening," Pablo Mendez, activist from the 15M indignados movement, said.

Spain risks being destroyed by a perfect storm, with investors taking capital out of the country as quickly as they can, when more capital is exactly what Spain's banking system needs to survive.

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