Crisis-España, Cervantes-Marías

Political Bankruptcy in Madrid Adds to Woes

Spain is one of the top travel destinations for Germans, a paradise with sandy beaches and rugged mountains, and the home of dozens of UNESCO World Heritage cultural sites, from the Moorish Alhambra to the Catholic Cathedral of Santiago de Compostela. It is the home of great painters like Pablo Picasso and Miquel Barceló, great architects like Antoni Gaudí and Rafael Moneo, and great writers like Miguel de Cervantes and Javier Marías. It’s also the home of the world’s top national football team, and even of excellently managed international companies, including Santander (which the magazine Euromoney just named the World’s Best Bank in 2012), the communications group Telefónica and the textile giant Inditex.

ERICH FOLLATH and HELENE ZUBER

Spiegel Online, July 30, 2012