UPDATE 3: Victorious Spainish team recieves heroes welcome in Madrid

FOLLOW LIVE THE CELEBRATIONS IN SPAIN (Source: RTVE - TVE 1 Channel (in Spanish)

The team rode in an open air bus through the fan-packed streets of Madrid, past the city’s landmarks amid red and yellow cheering crowds.

Prime Minister Zapatero has praised the country's football team after they made it to their first ever World Cup final and said Spanish people should be very proud. “That was an incredibly nice day for Spain. I was very please to see the team play like that on the field. The game was intelligent, elegant,” Zapatero said.

Spanish newspaper El Pais under its front page headline "World champions," described the victory as "an ode to happiness."

The locals have expressed their state of disbelief, but contend the win is well-deserved as “Netherlands were not playing football, only kicking the spanish players”, national and fan Xavier Molina said.
A group of fans were shouting "Iniesta Presidente! Iniesta Presidente!" along the centre of the Gran Via, the Spanish capital's main road
 

SEE PHOTOS OF WORLD CUP IN MADRID