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    Debt-stricken Catalonia eyes Spanish bailout aid

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    euronews (in English)

    by euronews (in English)

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    Overspending by Spain's 17 autonomous regions is one of the reasons behind the country's economic woes.

    During a property boom, they raked in a large amount in tax revenues, which were largely spent on costly infrastructure projects.

    Now the bubble has burst and the regions are unable to manage their massive debts.

    Catalonia, Spain's economic powerhouse, owes some 45 billion euros.
    ...
    http://www.euronews.net/