Saw this link on another forum. Some small pueblos have amazing amounts of debt.

http://www.idealista.com/news/archiv..._source=feedly

I found the link but the information wouldn't load - I'll try again later.

In the town we live in, we see no evidence of any attempt to reduce spending or operate more efficiently. Minor works being carried out by the Town Hall involve 3 people working and at least 3 watching (supervising?) with their typical working day starting at 8.30, 45 minute break mid morning, then finish at 2pm. We watched a minor job of lowering pavements at a junction take 3 weeks. On the positive side, it is a source of much amusement for the locals!

Only a third of ayuntamientos are debt-free! The total debt across the country is €35 billion - of which 7.4 billion is owed by Madrid.

It's a crazy system where your budgeting and spending is controlled by untrained elected representatives, based on projected tax revenues which don't materialise.

http://economia.elpais.com/economia/...45_380801.html