Though used today as a public area for people to walk through or relax in, Plaza de la Merced was once home to a bustling marketplace during the 15th century and was often referred to as Plaza del Mercado (Market Square). The plaza gets its name, however, from an order of Mercedarian friars who built a church on the plaza during the early 1500s.
In the center of the plaza is a tall white obelisque. Erected during the 19th century, Monumento a Torrijos honors General José María Torrijos and 48 of his companions, who were executed after battling French invaders. And in one of the corners of the plaza is a bronze statue of Picasso sitting on a marble bench.