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Spain in trouble?

Just got home via a 2 am cab ride, streets strangely empty. The cab driver said:

“It’s the news from the government, 4 million unemployed, over 17% of the working population, people are scared… wouldn’t surprise me if we reach 5 million…”

And I think Spain might well reach 5 million unemployed, I mean, it’s not as if the construction industry (which counts one way or another for over 30% of the GNP) is going to recover in the next 5 years… and what’s going to replace it?

Spain has troubled times ahead I fear…