Good episode. Although Spain has always been poor. I can remember going there in the 80's/90's and seeing how poorly people lived compared to the UK. Not that the quality of life was poor but they didn't seem to have as much 'stuff'. With the Euro this all changed, basically they got access to Germany's credit rating and went crazy. They enjoyed a good few years of 'prosperity' and everyone though wow it's this great, what they didn't realise is that will was all funded by cheap debt. Then the music stopped. All of Europe including the UK and especially the southern countries are going to have to realise that the quality of life they've become accustomed to is not sustainable.
RE: A Closer Look Into How We Were Tricked Into Believing The Economy Has Recovered - Episode 1430a