Will the political situation improve the economic situation in spain.

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I don't think it matters what happens politically - there is little politicians of any colour can do to prevent the boom to bust scenario that appears to be emerging.

Boom bust was regulated by brown in the uk. So can happen in Spain. Spains problem is over supply of certain products. Miselling by agents, too high commissions, and other markets opening up, socialist governments, and not enough diversified industry, other industries like shoes being eaten into by china, Spain needs to modernise, its mindset and competitiveness, and too much corruption. Be like the british, at least though a cold country people maybe more honorable? well some, as a nation, not that corrupt on the face of it!.

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I wouldn't say there is more corruption in Spain than in most other countries - maybe it is now more visible because of the focus on dirty deals in the real estate sector.

The larger economic woes stem from high inflation and low productivity that has eroded the competitiveness of Spanish firms while internal demand has risen exponentially. The result is a current account deficit that is second only to America's. The likelihood of a nasty correction is very real. After all, 14 years of solid economic growth in a mature economy is unprecedented.

I did not know this. How much is it, how much in the red are Spain?

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Well the local elections went well to the right but what is going to happen to Zapatero?