The Housing Crisis.

Since approximately 1985 the Spanish construction industry had experienced a remarkable expansion. It was not only a classic economic bubble; It was part of the so-called global real estate bubble, with specialty that, in Spain, was constituted in its structural economic locomotive. So, the following video will explain you how the crisis was born. 

With this, you will see and understand that guilt was not politicians like Zapatero, if not the banks. Even as politicians with cuts and its magnificent ideas may worsen the situation.