A Bloomberg report of the 9/12 suggests that some European CEO's believe that Spain will exit the euro and return to the peseta.
Already firms are making plans to move money to German banks or move their headquarters to northern Europe.
What are the consequences for the holiday maker or expat residing in Spain?
If Spain was to return to the peseta and then devalue it would make the country a cheaper place to visit ( assuming Sterling retains it's worth ), expats on a pension would receive a higher income but the value of our holiday homes and residences would reduce even further.
It's all swings and roundabouts.