Look, I've lived in Spain for a long time and obviously I see what's happening here. But I'm from California and I read/see/hear what the US press says about Spain. DO NOT BELIEVE IT! Most reports, and unfortunately this report as well in Slate, are more gut-check types of articles, with little background, facts, or true reporting.

For the curious, here's one BIG fact that all the press write about spain, but is totally false:

Reports state that Spain has 24%+ unemployment. FALSE! Unemployment figures in the US are pretty reliable (minus structural unemployment) - but in Spain the official figures are totally bogus. MANY PEOPLE work the system here - basically declaring themselves as unemployed (in order to collect the State's very generous unemployment insurance benefits), while continuing to work "illegally" - ie in the undeclared/un-oficial black labor market. Obviously, the government loses revenues in the form of unpaid social security payments, but 24% unemployment here is a total myth. I'm not sure why the press doesn't point that out.