compiled by MONITOR
IN Spain the PSOE socialists were returned to power for a further four-year term, although without an overall majority. In Malaysia the ruling National Front suffered its worst result since 1969 but kept power by a narrow margin.

In Serbia tensions over the independence of Kosovo and relations with the European Union led to the government's resignation and plans for an election in May.

The US Federal Reserve intervened twice in the markets to boost liquidity; the dollar fell to its lowest ever point against the euro and its lowest since 1996 against the Japanese yen. In Britain Chancellor of the Exchequer Alistair Darling's first Budget made little impression against the backdrop of a global recession threat.

Bulletin Headlines of the Week
SUNDAY/MONDAY: Spain Goes To The Polls (More than 700'000 people were eligible to vote in the Balearics).

TUESDAY: The Same Again... (Socialists celebrate “historic” win in Balearics. Partido Popular see their share of vote increase nationwide).

WEDNESDAY: Fears Over Spanish Economy (Economic growth for 2008 had been adjusted from 3.1 per cent to between 2.4 and 2.7 per cent immediately after the election).

THURSDAY: Easter Joy For Local Hoteliers (Hotels open for Easter predicted almost 70 per cent occupancy).

FRIDAY: Former City Councillor Probed In Council Cash Row (A former Palma planning councillor in the Partido Popular administration had allegedly spent 45'000 euros of council funds in bars and clubs).

SATURDAY: Majorca's Big Party (Lord Andrew Webber was celebrating his 60th birthday at Deya and had invited a galaxy of showbiz stars).