1. FAQ: Why is Spain now in crisis? And can it be fixed? (Washington Post | Wonkblog)

Brad Plumer gives the skinny on Spain. Things aren't looking too hot.

2. Paris Hilton's Sad Dating Life And The Collapse Of The Global Economy (Business Insider)

Did you know Paris Hilton's dating life is a bellweather for the macroeconomic state of affairs? It's true: Joe Weisenthal looks back.

3. Addressing Europe’s risks (Reuters)

Felix Salmon points out that the complacency built up in the EU over the last decade has just made the breakdown all the worse.

4. Good Comments (The Grumpy Economist)

John Cochrane has a bit of a go at Paul Krugman.

5. Hoisted from the Archives: A Non-Sokratic Dialogue on Social Welfare Function (Brad DeLong)

Ripped from the past, DeLong argues - coincedentally - against the sort of focus which Cochrane believes is crucial to economics, concluding that "to assume a position of relativism--like the claim to be neutral on issues of distribution--is really a statement that you are on the side of the powerful."