Eugene David
...The One-Minute Pundit

Sunday, August 14, 2011

Spain's 8,115 municipalities are being hit by a crushing revenue hangover from a nearly two-decade building boom that went bust in 2008. [Emphasis added]

Blame the miracle in Barcelona? No. But Spain, like the UK, was once a proud kingdom that straddled the globe, and it too had an economy with no tether, and leaders with no leadership.

(Via Seeking Alpha)

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