Spain appears to be on the road to recovery, if you can call it that with around a quarter of the workforce without a job.
The government says growth hit 0.3 percent in the final quarter of the year, the second quarterly expansion in a row, and may upgrade its forecast for 0.7 percent growth in 2014.
Its borrowing costs have tumbled to four-year lows in a new year bond rally and today Madrid will try to cash in by selling up to 5.5 billion euros of bonds following an above-target sale last week.
Traders expect the sale to go smoothly after Italy sold more than 8 billion euros of bonds on Monday, with funding costs over three years falling to a euro lifetime low.
What is more, French supermarket group Carrefour says sales in Spain returned to growth in the fourth quarter for the first time since 2008.