Overspending by Spain's 17 autonomous regions is one of the reasons behind the country's economic woes.<br /><br />During a property boom, they raked in a large amount in tax revenues, which were largely spent on costly infrastructure projects.<br /><br />Now the bubble has burst and the regions are unable to manage their massive debts.<br /><br />Catalonia, Spain's economic powerhouse, owes some 45 billion euros.<br />...<br />http://www.euronews.net/
