Germany must share some of the blame for the persistence of the economic crisis in Spain.

Spain has been hit hard by the Eurozone crisis, with unemployment levels pushing towards 27 per cent. Vicente Navarro writes on the role that Germany, the most powerful EU state, has played in the Spanish crisis. He argues that German banks must also share some of the responsibility for perpetuating Spain’s housing bubble, and that it is misleading to simply blame Spanish authorities for spending more than they could afford.