Pain in Spain | GlobalPost

Gambling with the future: Spaniards weigh EuroVegas

Meritxell MirAugust 6, 2012 06:00

BARCELONA — A quarter of Spain's working populaiton is unemployed. Enter American casino magnate Sheldon Adelson. A European Las Vegas would create thousands of jobs, but critics question its viability and what they say would be its harmful effects on society.

Raging youth unemployment fuels fears of social collapse in Spain

Paul AmesJuly 16, 2012 06:00

MADRID — Meet Spain's lost generation. More than half of people under 25 here are out of work — and the situation is even worse than statistics suggest. That's putting stability at risk as the government prepares to cut unemployment benefits and other spending, in an effort to meet the obligations of a euro zone bailout.

No respite seen in Spanish housing crisis

Paul AmesJuly 12, 2012 15:19

CIUDAD VALDELUZ, Spain — Empty avenues and rows of vacant, red-brick apartment blocks make this brand-new suburban community feel like the set of a science fiction movie in which a disaster wipes out most of a city’s inhabitants but leaves its buildings intact. Forty miles east of Madrid, where protesters clashed with police today over new austerity measures, Valdeluz has come to symbolize the real estate investment madness that swept Spain last decade before plunging it into a dire economic crisis that shows no sign of abating.

Spain's iconic La Liga soccer teams face high debt and unpaid taxes

Paul AmesJuly 11, 2012 06:00

MADRID — The Spanish soccer team’s victory in the European Championship this month provided much-needed diversion to a population especially hard hit by Europe's economic crisis. But the euphoria may not last long if the envy of the soccer world becomes the country’s latest financial casualty, as some are warning.

Spain bond yields hit euro-era high after Fitch downgrades 18 banks

Allison JacksonJune 12, 2012 16:02

The yield on Spain’s 10-year bonds rose to 6.81 percent in afternoon trading, which is the highest level since Spain started using the euro.