Madrid: Living in Financial Times

Published on December 4, 2015

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Seven years ago, Spain's economy collapsed. Loans defaulted, property prices plummeted, people lost their jobs... Several years later, the country appears to be gradually recovering. The desire for change and economic recovery is greater than ever, especially given the upcoming elections. Here, photographer Hannes Jung captures the mood on the ground in Madrid's financial district "AZCA".

A newspaper stand in the financial district "AZCA": In the last few years it's been rather weighed down with bad news Spain became rather unstuck in 2008 due to loan defaults. Torre Picasso, AZCA/Oficina Española de patent Y Marcas, AZCA In the evening, after work, the financial district in Madrid is deserted Encircled by high-rise buildings on the Plaza Pablo Ruiz Picasso. Is there a way out of the crisis? The basics of a business uniform: suit, briefcase, umbrella At the beginning of the crisis women were particularly affected by layoffs and wage cuts Looking to the future: Spain is slowly recovering from the economic crisis The shopping center "El Corte Inglés" (AZCA): After five years of recession, GDP growth rose in 2014 for the first time Some buildings in the district have been ravaged by the passage of time, but not in the Plaza Pablo Ruiz Picasso Hot air or headwinds? The parliamentary elections may knock the two-party system off balance Ceiling lighting viewed through the windows of empty buildings A trumpet player In the metro station "Nuevos Ministerios", located in the middle of the financial centre, soothes the ears of stressed businesswomen and men ---