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.
Spaniards battling a deep recession voted on Sunday in two snap regional elections that could deal a blow to Prime Minister Mariano Rajoy.Thursday, 29 August, 2013, 4:13am
World champions Spain and fellow European heavyweights Germany were hit late in time added on to end up with just a point apiece in their respective home qualifiers.18 Oct 2012 - 3:14am
Germany squandered a four-goal lead to draw 4-4 with Sweden while world champions Spain conceded in stoppage time to draw 1-1 with France as both teams lost 100 per cent records in World Cup qualifying on Tuesday.17 Oct 2012 - 8:32am
Spanish police arrested 60 people in raids on Chinese mobsters and accomplices, including a Spanish porn star, suspected of laundering money from prostitution and extortion, authorities said.17 Oct 2012 - 4:56am
The road to the 2014 World Cup continues tonight with a number of important European zone qualifiers that involve former champions Germany, Italy and Spain all facing difficult assignments overseas.12 Oct 2012 - 2:39am
Archaeologists believe they have found the exact spot in Rome where Julius Caesar was fatally stabbed on March 15, 44BC.
The stabbing of the dictator by Roman senators was recorded by ancient historians and dramatised by William Shakespeare, who gave Caesar the last words: "Et tu Brute? Then fall, Caesar."12 Oct 2012 - 4:04am
The euro zone finally gets its €500 billion (HK$5 trillion) rescue fund today when finance ministers meet amid growing uncertainty over Greece's tortuous debt bailout and whether Spain will need help in turn.8 Oct 2012 - 4:43am
Spanish police said yesterday they had arrested a 21-year-old as he received 140kg of explosives and chemicals that he intended to use in a Columbine-style massacre of students.
The suspect was arrested in the tourist haven of Palma de Mallorca, and his hate-filled diary and other papers revealed plans to attack the University of the Balearic Islands, they said.5 Oct 2012 - 4:24am
Spanish Prime Minister Mariano Rajoy has denied the country was planning an “imminent” demand for a sovereign bailout from the eurozone to end its financial crisis.
Market analysts said Spain might call for help within days to stabilise its public finances, but European officials cast doubt on that, saying that key players were still far from agreement.3 Oct 2012 - 12:12pm
A Spanish man drowned in a failed attempt to rescue a nine-year-old girl and her grandfather who became trapped inside a car during flash flooding, a local official said yesterday.
The girl was with her grandfather and 11-year-old brother when their car was caught in rapidly rising floodwaters on Friday near Puerto Lumbreras town in southeastern Spain.1 Oct 2012 - 4:43am