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EU leaders met at a summit in Brussels on Thursday 17^th June 2010, during which they denied that a rescue package was being considered for Spain, reports property website House Sales Spain (http://www.housesalesspain.com/). The country which once boasted a vibrant economy is suffering under the testing global economic climate, with more than 4 million Spanish workers having lost their jobs and estate agents in Spain reporting a rush of people wanting to sell property in Spain.

Spain's economy is undeniably faltering, with unemployment currently at 20%, a figure which is double for the youth of Spain (between the ages of 16 and 25 years old). For years, the 'Iberian Tiger' was a force to be reckoned with in the EU, with a booming economy and exponential growth created largely by low-cost loans from Europe. Property sales in Spain during the boom years went through the roof and Spain built more houses than France and Britain combined. Spanish wages rose by 30% and consumer spending rose to double the EU average. Speaking to The Sunday Times, Ramon Tamames, a professor of economics at Madrid University described recent years as "some of the best years in Spain's history