It is said that the debt crisis for Spain and Portugal will be the worst next year. The market has died and banks aren't lending, which is causing major issues in Spain. Because of the high rate of unemployment, many are being hired on temporary contracts (which bring no social security or holidays.)
Many people predict that a large number of Spaniards will temporarily leave Spain in order to find jobs else where. Currently, the unemployment rate for under 25 year olds is 45%.
A major sign that Spain's in trouble is the increase in people needing assistance from Lisbon's Banco Alimentar (the largest food bank in Europe). The number of people asking for food has risen sharply over the past two years. The people who are asking for food are not the ones you'd expect - couples with good jobs and have had a high standard of living.
http://www.guardian.co.uk/world/blog/2011/oct/14/spain-portugal-worst-next-year
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