<div><p>Summercase, a two-day electronic and indie rock music festival staged simultaneously in Barcelona and Madrid, will not be held this year due to Spain's sharp economic slump, organizers said Wednesday.</p><p>Due to the economic climate, there is "no guarantee" that the event can offer the "desired quality", concert promoters Sinnamon said in a statement, adding that they still plan to restage the event in 2010.</p><p>Summercase has been held every year since its debut in July 2006, becoming one of the largest festivals of its kind in Europe.</p><p>Over 80,000 music fans attended last year, enjoying such acts as The Verve, Kings of Leon, Maximo Park, Kaiser Chiefs and the revived Sex Pistols.</p><p>The Spanish economy, Europe's fifth-largest, entered its first recession since 1993 during the second half of 2008, and its year-end unemployment rate of 13.9 percent was the highest in the European Union.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=43667003&bid=informcom" /></div><div id="copyright"><div>

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