A LOT has been made of Spain's property bubble bursting and sparking the country's financial crisis, but, the situation is far more complicated than the Spanish media have been claiming and now the country is having to air its dirty laundry in Germany and in front of the rest of the European Union.
Foreign economists have been warning Spain that not does the country as a whole need a bailout, so do its autonomous regions such as the Balearics and, two have already headed to Madrid cap in hand and now Catalonia is going to be next. Strange, considering Catalonia has been fighting for independence for years claiming that it could operate as a stand alone region of Spain - obviously not. It is the region with the biggest debt, 41.8 billion euros.
And what about here in the Balearics, the government has spent the past week claiming it is solvent and financially solid but it has a debt of 4.4billion euros.
Obviously, these debts have not been run up by the current government, they have been mounting up for years but the question is this.
Whether you are in power or in opposition, what have the local politicians, most of them with little political experience been doing all these years.
For example, Balearic President Jose Ramon Bauza is a nice guy, but he is a young, forty something chemist who was a local mayor before taking over the Balearics.
Not quite the best CV.