After adopting the euro, the Spanish economy initially benefited from sharply lower interest rates, spurring a property bubble. However, with the onset of the global financial crisis, property prices collapsed, causing widespread layoffs, and pushing unemployment to more than 26 per cent by the end of 2012. Spain received a bank bailout from the European Central Bank in 2012. 

Soccer's transfer world is suffering from global crisis

Soccer's transfer world is suffering from global crisis

The global economic crisis is causing a major shift in the demographics of European soccer with cash-strapped Spain and Portugal witnessing an exodus of talent to rival leagues, a study has found.

Saturday, 26 January, 2013, 4:16am

Joy for thousands of Spain's El Nino US$1.1b lottery winners

Thousands of winners of Spain's US$1.1 billion El Nino lottery broke open champagne and wept for joy, savouring their luck at a time when the country faces its most severe economic crisis in decades .

8 Jan 2013 - 6:59am

Spanish King Juan Carlos expresses 'energy and hope' in times of crisis

The Spanish king celebrated his 75th birthday yesterday.

Spain's King Juan Carlos said he had "energy and hope" to continue ruling in his first public interview in more than a decade, after a year blighted by scandals.

6 Jan 2013 - 3:40am

Sport Digest, December 23, 2012

Kwok Kin-pong

Spain's anti-doping body mixed samples

23 Dec 2012 - 3:43am

Short Soccer, December 23, 2012

PSG defender Thiago Silva uses his head at Brest. Photo: AFP

Ibrahimovic opens floodgates for PSG

23 Dec 2012 - 3:43am

Catalans see Spanish education reform as language threat

Tourists review a Catalan menu in Barcelona. Photo: Reuters

Tensions between Spain's Catalonia region and the central government have flared over a national education reform that targets the sensitive issue of Catalan language teaching in schools.

Catalonia's leaders and media jumped on the defensive after Spanish Education Minister Jose Ignacio Wert proposed an education reform focusing on Spanish language teaching in all regions.

7 Dec 2012 - 4:34am

Visa lure for foreigners

A bedroom in a house in Los Altos del Golf.

Who wants to buy a home in the world's worst-performing markets right now? Even at seemingly giveaway prices, what could possibly entice a sale in places where values have disintegrated and no sign of recovery appears anywhere on the horizon?

Throwing in freebies is a marketing ploy that can work, but free steak knives won't cut it. How about if the prize was residency?

6 Dec 2012 - 12:22pm

Confederations Cup 'will see 12 stars'

Host Brazil will play Japan in the opening match of next year's Confederations Cup, while world champions Spain will debut against Uruguay.

2 Dec 2012 - 4:27am

Roads of Extremadura

The road from Trujillo to Zafra.

I like Madrid a lot, but I love leaving it. There's something about the regions just beyond the city limits that fills me with a sense of freedom, especially when I'm driving.

6 Dec 2012 - 2:09pm

Catalonia grows in distance from Spain

Convergencia i Unio leader Artur Mas votes in Sunday's ballot. His alliance is seeking a consultation on secession from Spain. Photos: Reuters

Catalonia's leader Artur Mas says the powerful region's economy can stand tall in Europe without Spain. But could Spain survive without Catalonia?

The prospect of an independent Catalonia of 7.5 million people lying to the northeast of Spain seems distant, with Prime Minister Mariano Rajoy's government vowing to block any referendum.

27 Nov 2012 - 5:56am

Catalan breakaway parties win big in vote

Artur Mas, leader of centre-right Catalan Nationalist Coalition (CiU), saw his support plunge in elections on Sunday. Photo: AP

Catalan parties pushing for a referendum on breaking away from Spain won strong backing in an election on Sunday, while voters punished the rich region’s leader Artur Mas, forcing him to share power.

29 Aug 2013 - 4:13am

Catalans vote in fight for statehood

Supporters of Artur Mas wave pro-independence flags in Barcelona on Friday. Photo: AP

Independence flags fluttering from balconies, Catalans voted on Sunday in an election that could set the region on a path to divorce from Spain.

Artur Mas, president of the northeastern region, is promising to hold a referendum on self-determination if he wins a mandate.

29 Aug 2013 - 4:13am

Spanish king's hip surgery successful

Spanish King Juan Carlos. Photo: EPA

Spain's 74-year-old King Juan Carlos had successful hip replacement surgery, the royal palace said, after two operations on the other hip caused by a fall during a controversial African elephant-hunting safari.

"The operation, which lasted 90 minutes, was carried out under general anaesthetic and was completely satisfactory," the palace said.

25 Nov 2012 - 4:02am

Spain loses out as European Central Bank names Yves Mersch to its board

Yves Mersch

Yves Mersch of Luxembourg was named to the European Central Bank's board after the longest battle over an appointment in the euro's 13-year history, bolstering the ECB's anti-inflation wing.

Mersch, 63, overcame Spain's attempt to retain the seat and a plea by European parliamentarians to give the post to a woman.

24 Nov 2012 - 3:14am

Crisis-hit Spain pays price of joining EU rich club

Protestors shout slogans during a demonstration against government-imposed austerity measures and labour reforms in the public health care sector in Madrid. Photo: AP

Blighted by recession and tottering on the edge of a sovereign bailout, Spain is about to pay the price of joining the club of richest nations in the European Union.

For the first time, Madrid may have to pay more into the bloc than it receives, a dramatic change from 10 years ago when it was the biggest recipient.

It is an unfortunate paradox at a time of deep crisis.

21 Nov 2012 - 11:11am