In recent weeks King Juan Carlos met with top Spanish business leaders — including executives from Spanish giants Santander, Banco Bilbao Vizcaya Argentaria and Telefonica — and urged them to act fast in favor of job creation.
Spain’s unemployment rate is hovering above 20 percent and climbing. The informal economy accounts for some of that. Still, the King told the assembled group: “The situation is very serious.”
Click here to see the El Pais front page from last Sunday.