The recession in Spain can be brought home by a quick peek at Telefonica’s results out this week when the company tried to focus on saying how well its Pay TV services were going, up 7% over the past year to 786,000 subscribers. The problem is that this is actually a fall this quarter, as was most of Spain’s pay TV for the past few quarters. Telefonica fell from 788,000, losing 2,000 IPTV customers. Across the board Telefonica revenues were up from €13.9 to €15.4 billion, impressive enough, although all the growth was from Latin America, up 26%, going through a fine economic outlook right now, while Spain fell back 5.6%. Globally pay TV went up to 2.9 million from…