Spain is the latest country to have to face up to the consequences of years of over-spending and over-borrowing, and this glimpse into life in one of Spain's most ancient and illustrious cities, Jerez, is a marker for where other cities there may be heading. Jerez, with a population of 212,000 people is in debt to the tune of one billion Euro. Public service employees are owed months of back pay, strikes are ongoing and the unemployment rate in the city is 34%.

We're doing well here by comparison.

If you want to see where Spain is headed, take a long look at Jerez | In English | EL PAÍS