Economic Crisis Steals up The Matadors

Spain celebrated Euro 2012 triumph just 3 weeks ago but national celebration turns to national disaster too soon.

La Furia Roja (The Red Fury) team beat promising Azurri side in Euro 2012 final on July 1 setting a historic record as a national team that wins 3 major soccer tournaments in a row.Los Matadores subdued Italian bull but soon economic realities comes back to steal up Spanish Trojan camp.

Hundreds of thousands of Spaniards took to the streets Thursday in the biggest of a string of angry anti-austerity protests. On Friday, the stock market plunged 5.8 percent and sovereign interest rates rose to dangerous levels, despite the eurozone's approval for a credit line of up to 100 billion euros ($122 billion) to save the banks.Spain has entered a "death spiral" with its rising financing costs complicating its efforts to pay off its debts, according to Rabobank analyst Richard McGuire.