Spain , a eurozone country , is in the crosshairs of today 's financial crisis . The country faces soaring borrowing costs , a banking system in disarray and high unemployment rates . If such a major economy were to fail , the repercussions could cause unprecedented havoc across the globe . But the situation in Spain is more like a ` ` perfect storm , '' with money being washed out of the country .
Spain , a eurozone behemoth , is in the crosshairs of Europe 's financial crisis . The country faces soaring borrowing costs , a banking system in disarray and high unemployment rates . If such a major economy were to fail , the repercussions could cause unprecedented havoc across the globe . But the situation in Spain is developing like a `` perfect storm , '' with money being pulled out of the country .