What is "picatostes"

Picatostes are slices of fried bread, from loaves fried with lard or olive oil. They are typical of Madrid, Spain. They are usually sweetened with granules of refined sugar on the outside. They are most commonly eaten for breakfast or a light lunch (merienda), accompanied by coffee. They are also sometimes eaten as a substitute for chocolate and churros (including as a late night snack). They can be eaten hot or cold. As a cheap staple food, they are also a common accompaniment to beverages in the traditional cafés of Madrid where tertulias are held.