Real Madrid Overtakes Manchester United as Most Valuable Soccer Team

Real Madrid has overtaken Manchester United as the world's most valuable soccer franchise at $3.3 billion, according to Forbes Magazine. Manchester United slipped to No. 2 with a value of $3.1 billion

Europe, Unemployment and Instability

The global financial crisis has slowly yielded to a global unemployment crisis. This unemployment crisis will give way to a political crisis. The crisis involves all three of the major pillars of the global system -- Europe, China and the United States

Free ATM In Spain Has People Paying It Forward

Coca-cola put up an ATM in Spain that would give anyone walking by 100 Euros (about $131) absolutely free! What's the catch?

Real Madrid boss Jose Mourinho Sympathizes with United over Nani Ejection

Real Madrid boss Jose Mourinho expressed sympathy for Manchester United when it lost Nani to a red card that doomed its chances in the Champions League. Without Nani, Manchester United lost to Real Madrid, 2-1

Lionel Messi Wins Ballon D'or Title for Fourth Straight Time

Lionel Messi made history anew when he became the first player to capture FIFA's prestigious Ballon d'Or title for a fourth time. The Barcelona forward beat Real Madrid's Cristiano Ronaldo and teammate Andres Iniesta

Real Madrid Settles for Scoreless Draw with Osasuna

Defending Spanish League champion Real Madrid failed to gain ground on Barcelona as it settled for a scoreless draw with last-place Osasuna. With the draw, Real Madrid drops 15 points behind Barcelona

A Right and Proper Death of the Euro When the proposal was initially made for a common European currency, it seemed to be a good idea. Although inexpert in economics, it struck me as an effect of a false analogy with the United States that was common in Europe at that time

Eurozone Jobless Rate Hits Record 12 Percent

The latest labor market report continued to show a wide disparity in the jobless rates throughout the eurozone. More than a quarter of the workforce is unemployed in both Spain and Greece, while in Germany only 5.4 percent are out of work

Nani Red Card was 'Amazing'

Manchester United assistant manager Mike Phelan described Sir Alex Ferguson as 'too distraught' to face the media following their 2-1 loss to Real Madrid in the UEFA Champions League

Manchester United Sees Red After Loss to Real Madrid

A red card handed out to Manchester United player Nani in their European Champions League match against Real Madrid turned the tie on its head

Beyond Barcelona

It's hard to top Barcelona, Spain's most cosmopolitan and fun city. I love the place, and I'm not alone. However, If you want a break from the crowds, several day trips from Barcelona are tempting scene-changers

Lionel Messi Extends Barcelona Deal Until 2018

Lionel Messi agreed to stay with Barcelona until 2018, when he will be 31. Messi's contract has been periodically updated since he made his first-team debut in October 2004

Half-Baked Economic Theories Continue to Direct Global Economy

I am not writing this to pile on two Harvard economists who put the Western world into economic mess. I am concerned about the policy professionals who accept such economic propositions even when they seem self-evidently too good to be true and defy common sense

Real Madrid and Barcelona Avoid Clash in UEFA Quarterfinal

Spanish giants Real Madrid and Barcelona have avoided a showdown in the 2013 UEFA Champions League after being separated in the quarterfinal draw

Manchester United - Real Madrid Showdown Ends in Draw

Danny Welbeck scored on a header in the first half and Cristiano Ronaldo responded with the equalizer 10 minutes after as the showdown between Manchester United and Real Madrid ended in a 1-1 draw

Michael Essien Says La Liga Better than Premier League

Ghanaian midfielder Michael Essien feels like the play in the Spanish League is far better than the rough-housing nature of the English Premier League

Barcelona Locks in Lionel Messi Up to 2018

Barcelona secured the service of perhaps the best football player of the present era for at least five more years after striker Lionel Messi agreed to a two-year deal

Lionel Messi Scores Four Goals Against Osasuna, Sets Another Record

Lionel Messi made history again by becoming the first player to score in 11 consecutive Spanish La Liga matches when he delivered four goals in Barcelona's 5-1 domination over Osasuna

Europe is Divided Again: This Time It's Creditors vs Debtors

The euro crisis is now threatening to turn the European Union into something fundamentally different. The member countries are divided into two classes -- creditors and debtors -- with the creditors in charge

Europe: The Politics of Fear

Like ghosts from the past, we see political violence, xenophobia, migrants being scapegoated and extreme nationalism creeping into our public debates -- even into our parliaments. This is a Europe diverging from its founding principles

Would a Stronger European Federation Even Help?

Seventeen economically disparate nations bound their fortunes together in creating the euro zone, and it is exactly this that has thrown the European project into crisis

The Allure of Cordoba

Tucked into a bend of its river, the Andalusian town of Cordoba has a glorious Moorish past. Typical of southern Spain, it's a people-friendly place filled with energy and color

How Football Continues to Influence Spanish and Italian Politics

At peak moments, sport, which can bring millions of joyful citizens on to the streets in celebration of World Cup successes, has shown itself capable of transforming the very idea of a nation and its politics

Malaga Striker Saviola Calls Messi 'Best Active Player'

Malaga striker Javier Saviola has picked Barcelona star Lionel Messi over Portuguese skipper Cristiano Ronaldo as the best player in the world actively playing

Spanish Enterprises Need Latin America for Economic Expansion

As the European financial crisis intensifies, Spanish corporations have exhibited a rather bold economic game plan in the Latin American market

Twitter Attracts Investments for Spanish Soccer Club Real Oviedo

Real Oviedo raised 274,000 Euros in nine days from supporters who learned about the sale of club shares through Twitter

Real Madrid Boots Manchester City Out of Champions League

Premier League defending champion Manchester City was booted out of the Champions League group stage for the second straight year after settling for a 1-1 draw with Real Madrid

Ronaldo's Last-Minute Goal Lifts Real Madrid Past Man City

Karim Benzema and Cristiano Ronaldo scored back-to-back goals in a span of three minutes as Real Madrid defeated Premier League champion Manchester City, 3-2, in the UEFA Champions League

Mourinho Berates Real Madrid's Lackluster Performance

Unable to contain his disappointment, Real Madrid coach Jose Mourinho berated his team for its lackluster performance that resulted in a 1-0 loss to Sevilla

USA Battles Spain for 107-100 Win to Capture Olympic Gold Medal

In a game that featured 16 lead changes and six ties, 30 points from Kevin Durant led a balanced attack that helped Team USA fight off Spain for a 107-100 win to capture the Olympic gold medal

Pau Gasol Leads Spain Past Russia, Into Gold Medal Game

Pau Gasol tallied 16 points and 12 rebounds and European champion Spain recovered from an 11-point halftime deficit to defeat Russia and advance to the final of the Olympic men's basketball final

Spain May Need International Bailout

Despite its economic situation, Spain hopes to reassure investors that they do not need to be bailed out like Greece. Spain's borrowing costs are at an all-time high

Barcelona's Lionel Messi Named Top La Liga Player

Barcelona striker Lionel Messi was named best player in the recently concluded La Liga 2011-02 season, beating Real Madrid duo Cristiano Ronaldo and Karim Benzema for the award

Congratulations, Europe, on Winning the Nobel Peace Price

The Nobel Committee recently awarded its prestigious top prize to 500 million people who have, for the last 65 years, made a conscious decision to live together in peace and harmony: the European Union

Giroud Goal Helps France Tie Spain in World Cup Qualifying

Substitute forward Olivier Giroud buried a goal in extra time to carry France to a 1-1 draw over defending champion Spain in a qualifying match for the 2014 World Cup

Pedro Rodriguez Delivers Hat Trick as Spain Blanks Belarus

Pedro Rodriguez scored a hat trick as defending champion Spain stretched its unbeaten World Cup qualification run to 47 games with a 4-0 blanking of Belarus

A Blitz Tour of Madrid

Despite the economic uncertainty, today's Madrid is vibrant. Lively Madrid has enough street-singing, bar-hopping, and people-watching vitality to give any visitor a boost

Spain Announces Deep Austerity, New Taxes

Spain's Prime Minister Mariano Rajoy announced that his government will implement 65 billion euros worth of spending cuts in a major effort to reach budget-deficit goals

Spain's 10-year Bond Yields Reach Above 7 Percent

After going up as high as 7.108 percent, Spain's 10-year government bond yield finished at 7.06 percent. The rise to the 7 percent level is regarded as unsustainable by many economists

Europe's Optional Catastrophe

If the eurozone splinters, it will have been an avoidable disaster. The choice lies with Germany, which can save the monetary union if it allows for policies aimed at debt relief and growth, not just slashing deficits

European Elites Can't Stop Themselves Crashing Their Own Project

Throughout the Euro crisis, the Euro elite has suffered from the same inability to imagine failure that led to August 1914. Even days before the outbreak of war, it was thought impossible because the consequences would end the system

Why Angela Merkel Won't Bail Out The Profligate Countries of Europe

With Germany enjoying historic lows in unemployment, why is she resisting calls to open her purse strings to help the eurozone's floundering members? It is worth examining why Germans see things differently

Enforcing Budgetary Discipline in the Eurozone

Europe's new fiscal compact treaty attempts to force regional reform without challenging sovereignty

Economic Needs Spur Tensions Between Madrid and the Regions

A new law will give Madrid more control over the budgets of Spain's autonomous regions

Spain: The Threat

In Spain, two new satellite TV stations recently signed on. They won't be airing 'Judge Judy,' but instead are broadcasting Islamic theology and political propaganda

Surviving a Lost Decade

Even before the financial sector and sovereign debt crisis began to destabilise Europe's banking system, European leaders were voicing fears that the Old World might be slipping towards global irrelevance

Spain Tops Portugal in Penalty Shootout, Advances to Euro Final

Defending champion Spain advanced to the final of the European Championship for the second straight time after edging Portugal, 4-2, in a penalty shootout

Alonso Sparks Spain Past France into Semifinals

Midfielder Xabi Alonso scored two goals to help defending champion Spain cruise into the European Championship semifinal with a comfortable 2-0 win over France

Spain Moves on to Euro 2012 Quarterfinal Round

Defending champion Spain needed a late goal from substitute Jesus Navas to knock out Croatia, and advance to the quarterfinal round. Italy also advanced by blanking Ireland, 2-0

Coach Del Bosque Signs Contract Extension with Spain

Coach Vicente del Bosque has signed a contract extension with Spain, sticking with the team until its title defense in the 2014 World Cup in Brazil and beyond

Fernando Torres Stars in Spain's 4-0 Win Over Ireland

Fernando Torres found the back of the net twice while David Silva and Cesc Fabregas scored a goal each as defending champion Spain cruised to a 4-0 victory over Ireland

Euro 2012: Italy Ties Defending Champion Spain

Rather than yield a positive result, Spain's false nine formation backfired as the reigning European champion was held to a 1-1 draw by Italy in the opening match of European Championship 2012 Group C

Spanish Soccer Squad Unleashes True Form Against South Korea

Spain looked sharp in its preparation for the 2012 Euro Championship, easily toppling down Asian powerhouse South Korea, 4-1

Culture Still Matters

You can learn a lot about Europe's current economic crises by just ignoring the sophisticated barrage of news analysis and instead watching, listening, and talking to people

Let Sleeping Germans Lie

All over Europe, the gospel is that tight-fisted Germans are at the root of the European Union meltdown: They worked too hard, saved too much, bought too little and borrowed not at all

Austerity Strategy is Fatally Flawed

Economists continue inveighing against austerity strategies. But none of them seem capable of explaining in plain, simple language why imposing austerity now is utterly foolhardy -- in fact, just plain stupid

European Economies At Risk - Spain

Spain is at high risk economically and politically due to private debt, unemployment and increasing social tensions

Barcelona's Messi Sets European Season Goal Record

Lionel Messi recorded a hat trick to lead Barcelona to a 4-1 triumph over Malaga and break the record for goals in a European club season

Europe After the Crisis: How to Sustain a Common Currency

Over the past two years, the eurozone members have done a remarkable job managing the short-term symptoms of the crisis, although the costs have been great. Yet the long-term challenge remains

Police, Protesters Clash in Spanish General Strike

Spain's labor strike drew tens of thousands of people who marched through streets in major cities to protest the Spanish government's austerity program

Bankrupt Spanish Airline Halts Flights

Some 23,000 passengers of Spanair were left stranded across Europe and Africa or rebooking flights when the Barcelona, Spain-based airline abruptly stopped operations due to bankruptcy

Will the Euro Survive 2012?

2012 could be the make-or-break moment for the embattled eurozone. Europe could either continue on the path of ever-greater integration - or return to being a regional group of rival states.

The Failure of the Euro

The euro should now be recognized as an experiment that failed. The political goal of creating a harmonious Europe has also failed

The Double Dilemma Facing Weaker National Economies

At the heart of this particular crisis is the unpleasant fact that the common European currency project is, in its present form, simply not working

Eurozone Rescue or Recession? Fallout of the October Package

It was short-term good news in that it defused 'the bomb' -- the possible catastrophe vortex of failing banks and defaulting sovereigns. The bad news is that it will induce a recession. Banks will create a credit crunch in trying to meet capital adequacy ratios, and the new austerity will create a fiscal contraction

Euro Zone Rescue: Deja Vu All Over Again

The crisis won't be over until the underlying flaw of the euro is fixed -- namely the separation of monetary and fiscal policy. German public opinion has to realise that the euro was built on imperfect foundations and that these imperfections must be corrected. Meanwhile, the Italian president of the ECB will need all his technical and political expertise to keep the Eurozone together

France Teetering on Edge of Financial Precipice

France, like all of Europe, is caught in an economic tsunami, and France is teetering at the edge of the precipice. Every week, it seems, presidents and prime ministers hold urgent meetings searching for a solution, culminating with the G-20 convocation recently. Still, the problem grows only worse

European Union Leaders Reach Deal on Greece, but Worries Remain

European Union leaders have brokered a deal to reduce Greece's debt and hopefully stem the continent's lingering debt crisis. The deal is a major move forward, but it is still only one step in restoring stability on a continent beset by economic woes

Spain: ETA Separatists Declare Cease Fire

Basque separatists declared it is ending its armed struggle for an independent homeland in Spain

Spanish PM Welcomes ETA's Declaration to End Guerilla Activity

Spanish Prime Minister Jose Luis Rodriguez Zapatero hailed the Basque separatists ETA's declaration to end four decades of violence

Spanish Court Won't Let Cameraman Couso Killing Die

The U.S. embassy in Madrid was able to strong-arm the Spanish government into twice closing the Couso case, but a Spanish court has re-opened it

Precise Solutions in an Imprecise Reality

The plans all are financial solutions to a particular set of financial problems. But regardless of whether they are realistic in addressing the financial problem, the question of whether the financial issue really addresses the fundamental dilemma of Europe -- which is political and geopolitical -- remains

Spanish Judge Frees 5 Terror Suspects

A Spanish judge has ordered the release of five Algerians arrested last week on suspicion of financing al-Qaida-linked terrorist activities in North Africa, saying there is no significant evidence to keep them in jail

Innovation and Foreign Ownership: New Evidence from Spain

Studies have shown that foreign-owned firms are typically more productive. This column presents evidence from Spain that suggests this is mainly due to foreign firms buying the most productive domestic companies

Real Madrid Signs 7-Year-Old Prodigy Leonel Coira To Contract

Real Madrid has signed 7-year-old Leonel Angel Coira. Coira signed to Madrid's youth academy after the club saw him tryout

Richest Spanish Woman Giving Inheritance To Children Early To Marry Civil Servant

Spain's Duchess of Alba, the richest woman in the country with a wealth worth up to $5 billion, will give her children their inheritance early so they will not block her marriage to a civil servant

Spaniards Protest Against Euro-Pact and Austerity Measures

Thousands of Spaniards have come to streets across the country in protest against austerity measures, unemployment and spending cuts

What's New in Spain

While their economies may be undergoing turbulence in 2012, positive changes in France and Spain are also in the air -- making this year a good time to touch down in these essential European destinations

Barca Super-Scorer David Villa Out Six Months

Spanish national team striker David Villa will sit out for six months after sustaining a broken leg in Barcelona's victory over Al Sadd in the FIFA Club World Cup semifinals. Villa boasts 51 goals in 82 international matches

Barcelona Takes Clasico from Real Madrid

Barcelona gave up a goal in the blink of an eye but still had Real Madrid seeing red after Saturday's clasico. Barca gave up one of the fastest goals in clasico history but rallied to win 3-1 in Madrid

Nadal Powers Spain to Davis Cup Victory

Rafael Nadal overcame a sloppy start to rally past Martin Del Potro 1-6, 6-4, 6-1, 7-6 (7-0) Sunday and give Spain its third Davis Cup championship in four years

Stage Set For 2012 Euro Cup Finals

The stage is set for the 2012 Euro Cup following Friday's draw that saw host Poland and Ukraine getting the top draws while Spain placed in a tougher group. Poland was drawn in Group A along with Greece, Russia, and Czech Republic

Spain: Third Credit Rating Downgrade for Spain in 13 Months

In a span of just a little over one year, Spain has suffered a third debt rating downgrade from Moody's Investors Service. The rating agency cut Spain's rating by two levels to A1 from Aa2

Better Ways Forward for the European Union

The European Union is presently a source of great instability that leaders have yet to tackle. This column argues the current policy response is misguided. The adjustment programmes are bound to fail to achieve sustainable budget deficits, and may result in an unprecedented destruction of economic activity

Steve Jobs May Have Failed Abroad

A Tweet I received after the death of Steve Jobs caught my attention. It said, 'In Spain, Jobs wouldn't have been able to do anything, because it's illegal to start a business in your garage, and nobody would give you a penny.' The comment raises the interesting questions of why there aren't more innovators such as Jobs in other parts of the world

Behind Europe's Debt Crisis Lurks Another Wall Street Bailout

If you want the real reason for concern in the United States about what's happening in Europe, follow the money. A Greek (or Irish or Spanish or Italian or Portuguese) default would have roughly the same effect on our financial system as the implosion of Lehman Brothers in 2008. That is, financial chaos

The Crisis of Europe and European Nationalism

Europe was seen as a work in progress moving inevitably toward unification -- a group of nations committed to a common fate. What was a core vision in 2008 is now gone. What was inconceivable -- the primacy of the traditional nation-state -- is now commonly discussed, and steps to devolve Europe in part or in whole are being contemplated. This is not a trivial event

Barcelona: A Visual Feast

If you're in the mood to surrender to a city's charms, let it be in Barcelona. Life bubbles in its narrow old town alleys, grand boulevards, and elegant modern district. While Barcelona has an illustrious past -- from Roman colony to 14th-century maritime power -- it's enjoyable to throw out the history books and just drift through the city

The Pain in Spain

The Spanish government has been showing the world how to repress an uprising European-style

Spain Announces Temporary Tax Cut to Stimulate New House Sales

Spain announced it would temporarily lower the rate of the value-added tax on purchases of a new house as one method of trying to increase sluggish sales in that sector

Spain: Playing at Revolution

It is never easy to end a revolution. One month after the beginning of the protests which began on May 15 in Madrid and quickly spread to the rest of Spain, most of the camps have been dismantled. Just a few nostalgic souls refuse to abandon their posts in Puerta del Sol in Madrid and Plaza de Cataluna in Barcelona, the two most symbolic squares of these peaceful revolts

Spain May Change Tone on Latin America

The widely expected victory of the center-right People's Party in Spain's next presidential elections is drawing growing attention to statements by party officials that they plan to change this country's foreign policy, and become much more critical of Cuba, Venezuela and other authoritarian regimes. If that happens, it would make a big difference in the Latin America diplomatic arena

Copa del Rey: Barca Eliminates Real Madrid

Barcelona moved on to the semifinal round of the Copa del Rey with a 4-3 aggregate win against arch rival Real Madrid

Pele: 'Messi Doesn't Match Up to Me in Soccer'

Brazilian soccer great Pele stated Argentine and Barcelona striker Lionel Messi is miles away to equaling his legendary feats

Troubled Spain Elects New Leadership

The Spanish people rejected the ruling Socialist government in favor of the center-right Popular Party, electing Mariano Rajoy as the new prime minister and handing the party an absolute majority in parliament. Yet the results of the election highlight the gap between Spain and its southern European brethren

Democracy in Revolution: the Mediterranean Moment

By showing us the possibility of democracy in revolution, the Mediterranean has ignited a revolution in democracy, one that is redefining the meaning of both terms

EU Leaders Announce New Eurozone Rescue Deal

EU leaders announced a new plan to contain the debt crisis in the euro area, after private banks and investors agreed to write off 50% of Greek debt from their books

Can Europe's Divided House Stand?

Conventional wisdom has it that the eurozone cannot have a monetary union without also having a fiscal union. Euro-enthusiasts see the single currency as the first steppingstone toward a broader economic union, which is their dream. Euroskeptics do, too, but they see that endgame as hell -- and would prefer the single currency to be dismantled

The Last Colony in Africa

The Western Sahara is the last country in Africa that has not been correctly decolonised -- instead, the right of the Sahrawi people to post-colonial independence has been frozen in time

Assessing the Damage of the European Banking Crisis

Europe faces a banking crisis it has not wanted to admit even exists

Sergio Aguero's Late Game-Winner Lift Manchester City Over Villarreal

Sergio Aguero chipped in a goal in second half stoppage time and Manchester City overcame a slow start to beat Villarreal, 2-1 in UEFA Champions League match at Etihad Stadium

EUFA Champions League: Barca Solves Viktoria Plzen; Chelsea Rips Racing Genk

Andres Iniesta and David Villa netted a goal each and Barcelona easily nabbed a 2-0 victory over Viktoria Plzen in a UEFA Champions League Group H showdown at Camp Nou

Eastern Mediterranean Olive Oil Producers Seek Markets in Far East

There's a revolution taking place in the eastern Mediterranean and it's all about oil ... olive oil

European Union Spending Cuts and Tax Hikes Hurt GDP Growth

A new round of second-quarter GDP figures shows slowing growth in the EU, which makes for a complicated economic situation, as reduced government spending can further stifle growth. Some economists say that, in tackling this dilemma, European governments are focusing too closely on their balance sheets and neglecting to propose real growth policies

Who's Worse Off: Europe or the United States?

To be sure, both the United States and Europe continue to grapple with slow economic growth, the crushing weight of enormous public debt, and austerity measures designed to trim government expenditures. But many of the similarities between the debt-ridden European Union and the United States end there

Youth-Led Protests Rock Spain

The protest movement that started in the Middle East and north Africa is spreading to other nations as people complain of poor governance and economic hardship under their leaders

Pamplona's Running of the Bulls

Every year, a million revelers pack into Pamplona, Spain, for the raucous Festival of San Fermin. They come to this proud town in the Pyrenees foothills for music, fireworks, and merrymaking. But most of all, they come for the Running of the Bulls, when fearless (or foolish) adventurers -- called mozos -- thrust themselves into the path of six furious bulls

The Divided States of Europe

It is important to understand that the crisis is not fundamentally about Greece. After all, Greece represents only 2.5 percent of the eurozone's GDP, and the bloc's fiscal numbers are not that bad when looked at in the aggregate. The real crisis is the more fundamental question of how the European continent is to be ruled in the 21st century

2010 FIFA World Cup Champions Spain: Spaniards Adorned with Medals and Trophy

Spain's Andres Iniesta Celebrates his World Cup Winning Goal

Netherlands Keeper Maarten Stekelenburg Shows his Dejection

Arjen Robben of the Netherlands closes down Xavi Hernandez of Spain

Spain's Sergio Ramos Missed Header Opportunity

Spain's Goalkeeper Iker Casillas saves Netherlands' Arjen Robben shot

Spain's Jesus Navas and Netherlands' Giovanni Van Bronckhorst Battle for the Ball

Spain Celebrates 1-0 Victory at the Final Whistle

Midfielder Alonso Xavi Poses with World Cup Trophy