[pepsionice]

The plus side of Spain is that they didn’t run up massive burdens like Greece. Spain could run a mild austerity program for three years and emerge in decent shape. They aren’t that bad off. Toss in the fact that it’s still on the vacation agenda of most folks in Germany, the UK, and France....and they look great. Don’t ask a Greek guy about his tourism situation (no one is going to Greece this summer because they have fears).

[billorites]

I spent ten days in Madrid, Segovia and Toledo this spring. Saw evidence of a few demonstrations, at Puerto del Sol, but otherwise had to read the newspapers and watch TV for any evidence of unrest.

Yes, they're in much better shape than Greece, but there is still a fragile component to Spanish democracy and civil society.

It's a pricey environment even outside of tourist areas. Must be very tough for the natives who have lost work.