Economic Crisis Renders Madrid's Commuter Towns Redundant

SESENA, SPAIN - JULY 06: A banner advertises apartments for rent or purchase on a large-scale residential development which stands predominately unoccupied on July 6, 2012 in Sesena, Spain. Sesena’s extensive building projects, 35 km south of Madrid, were initially intended to house 30,000 people and triple the population of the town, however most apartments still remain empty. Despite having the fourth largest economy in the Eurozone, the economic situation in Spain remains troubled with their unemployment rate the highest of any Eurozone country. Spain is currently administering billions of euros of spending cuts and tax increases in a bid to manage its national debt. Spain also has access to loans of up to 100 billion euros from the European Financial Stability Facility which will be used to rescue the country's banks that have been badly affected by a crash in property prices. (Photo by Oli Scarff/Getty Images)
SESENA, SPAIN - JULY 06: A banner advertises apartments for rent or purchase on a large-scale residential development which stands predominately unoccupied on July 6, 2012 in Sesena, Spain. Sesena’s extensive building projects, 35 km south of Madrid, were initially intended to house 30,000 people and triple the population of the town, however most apartments still remain empty. Despite having the fourth largest economy in the Eurozone, the economic situation in Spain remains troubled with their unemployment rate the highest of any Eurozone country. Spain is currently administering billions of euros of spending cuts and tax increases in a bid to manage its national debt. Spain also has access to loans of up to 100 billion euros from the European Financial Stability Facility which will be used to rescue the country's banks that have been badly affected by a crash in property prices. (Photo by Oli Scarff/Getty Images)
Economic Crisis Renders Madrid's Commuter Towns Redundant
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Crédits :
Oli Scarff / Employé
Editorial - n° :
148062680
Collection :
Getty Images News
Date de création :
6 juillet 2012
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Autorisation non disponible. Plus d'infos
Source :
Getty Images Europe
Référence :
70508463