Latest update: 17/04/2012
Concerns are mounting that Spain will be the next Eurozone country to seek a financial bailout. Not only is the central government struggling with debt, but so are local authorities, particularly in Jerez. The Andalusian city, known around the world for its sherry business, owes some 950 million euros and some are calling it a mini-Greece. It's widely thought Jerez and other Spanish towns and cities will have to receive financial support from Madrid.