Has Spain Escaped Its Debt Crisis?

Alistair Dawber, The Guardian: As Greece stares into the abyss, has Spain escaped from crisis?

Three years ago the country faced an Athens-style bailout. Now the shadow of collapse has lifted - but the young and jobless are still struggling

Daniel Roman is feeling upbeat. Six months ago, the 38-year-old sommelier opened a small wine shop in the Mercado de la Cebada, a covered market in Madrid’s trendy La Latina neighbourhood. “I’m confident,” he says, as he serves two elderly customers from the counter. “Opening here was the natural next step for me. I’ve always wanted to build something of my own.”

The statistics would indicate he has every reason to feel cheerful. Spain’s economy appears to be emerging at full throttle from one of the longest and deepest recessions it has ever suffered. An IMF report said growth by the end of this year will be a startling 3.1%, leading to job creation, and, in theory at least, a better standard of living for Spaniards who have suffered crippling levels of unemployment and decline over the last seven years.

WNU Editor: I have a lot of Spanish friends who are telling me a different story .... that times are tough and that to survive people need to work long hours while making less money. But when compared to Greece .... they are also all telling me the same thing .... they prefer to be in Spain right now .... and definitely not Greece.