Spain took up the EU presidency from Sweden Friday and the occasion was marked by a breathtaking light show in Puerta Del Sol in Madrid. Sweden had been at the reign of the EU since July 1, 2009 and now Spain will head the EU till 30 Jun, 2010.

There is much to look forward to as Spain takes over the presidency for a six month period which follows just a month after the Lisbon treaty came into effect.

The Lisbon treaty was marked by controversies and it would be interesting to see how Spain manages to come up with a solution to smoothen the decision making process, with critics saying that the new system is as complex as the one which was in place earlier. The recent creation of posts of President of the European Council and Foreign Policy Supremo has given rise to the possibility where roles may overlap.

The Spanish government has said that it will give maximum attention to the Lisbon Treaty and focus on measures to tackle the financial meltdown in the European bloc. Spain will head crucial meetings on economy, energy and environment and would be host to a certain number of summits as well.