5 Reasons for Spain’s Economic Troubles
A recession is deepening in Spain and a growing number of its regional governments are seeking financial lifelines. Repeated efforts since 2009 by successive governments to fix the country's problems have managed to undermine confidence in the fourth-largest economy among the 17 nations that use the euro. These developments are adding to the problems of a government already struggling to prop up its shaky banking system. Spain finally got approval from the other 16 members of the eurozone to access up to (EURO)100 billion ($121 billion) in loans to prop up its banks.