Spain's woes to deepen as it double-dips into recession Spain's statistics office is expected to say tomorrow that the economy shrank by 0.4pc between January and March, plunging it into a technical recession after gross domestic product fell 0.3pc in the fourth quarter of 2011. The eurozone's woes pose a continued threat to the global economic recovery, and David Cameron said today the region was "nowhere near halfway through" the debt crisis. In an attempt to boost growth the European Commission is considering the creation of a €200bn (£163bn) investment fund across the eurozone, according to Spanish newspaper El Pais. The report said a fund would likely have a variety of partners and would be supported by the region's two rescue funds and directed at infrastructure, renewable energy, and technology projects. The Spanish Government has been plagued by high borrowing costs and bailout speculation. In order to tackle its deficit it has been forced to implement sweeping austerity plans, which today prompted tens of thousands of Spaniards to take to the streets of Madrid in protest. Spain's debt crisis has pushed the country's jobless rate to 24.4pc, and borrowing costs were driven higher last week after ratings agency Standard & Poor's cut the country's credit rating two notches from A to BBB+. Its borrowing costs are considered to be unsustainably high, with the yield on benchmark 10-year Spanish bonds at 5.8pc, where the higher the yield the lower the demand for the bonds. The Government will try to sell a further €3bn of bonds this week, in what is expected to be a difficult auction which could see the Government forced to paying a higher price to borrow compared with past auctions. Separately Jean-Claude Juncker, the head of the eurozone finance ministers' group, said he would try to convince French presidential frontrunner Francois Hollande to drop plans to renegotiate a key fiscal pact, should he be elected.