Spain | featured news

Spain's 17 regional governments are a big part of the country's financial problems. Like the regional savings banks, they are victims of the country's property boom and bust. During the boom years, regional government tax revenues were swelled by stamp duties on property sales, and by income taxes paid by immigrants that came to work on the country's construction sites... Then the bust came...

Spain’s borrowing costs rose to record levels for a third consecutive trading day on Monday on concerns that a deepening recession and the financing problems of its regions would force the government to seek a full-fledged bailout.

A French man and one of his three children died after they jumped along with his wife off a 164-foot cliff into the sea to flee a raging wildfire that forced them out of their car just as they were about to cross the Spanish border into France at the end of their vacation, officials said Monday.

German leaders have a message for their anxious neighbors: Perhaps the euro crisis isn’t so dire after all. A growing chorus of German policymakers say they have years to resolve the euro zone’s problems, even as Italy and Spain press for urgent action to bring down their borrowing costs, which are approaching new heights.

Ten-year bond yields rose above 7 percent and shorter-term issues also sold at higher cost, raising fears that recent European accords were not enough to stem the debt crisis.

The Spanish government's most recent reforms will slash 56.4 billion euros ($69 billion) from the public deficit in the next two and a half years, an official document showed on Saturday, leaving a gap to be filled by taxes on energy.

Irene Fernandez lost her job with Spain's postal service five months ago, a victim of government spending cuts. Since then, she's been getting by on spending money from her mother and the $530 a month she earns grooming dogs for neighbors.

Just like clockwork, Spain's "tiki taka" passing game tore Italy apart. The World Cup champions controlled the play Sunday in the European Championship final, as they usually do. They moved the ball up the field with short pass after short pass, as they usually do.

Italy and Spain, battling searing market pressure in the euro zone's widening debt crisis, blocked agreement on measures to promote growth at a European Union summit on Thursday to demand urgent action to bring down their borrowing costs.

Despite an embarrassment of rested riches, Germany came up short against Italy, who moves on to the final in Kiev against Spain.