Their economy is tumbling. Their debt is soaring. Their banks are in a sorrowful state. The confidence of bond investors continues to dip. The country is in tethers.
But all that did not prevent Spain from playing exemplary football of the highest level. All those worries were locked in a tight box and forgotten about on a day of footballing mania. A much-awaited Euro 2012 final between Spain and Italy beckoned - a final that held promise for both the economically bruised nations.
After a lot of speculation and deliberation, it was Cesc Fabregas who started up front for La Roja in the 'False No. 9' role. Spain coach Vicente del Bosque definitely had taken a risk, not putting up a full-fledged striker, but as it turned out, the risk paid sweet dividends.
Italy, treading on similar paths as Spain on the economic front, went with their usual formation putting up "Super Mario" and Antonio Cassano up front.
Spain began their play as was expected of them, getting into their passing rhythm quickly and dominating possession. A flurry of attacks early in the game from both sides saw the game balanced. But Spain had clearly driven home the point that they were not ready to be countered the way they were by Portugal. At times, when the tiki-taka of Spain was in full flow, it seemed as if Spain were playing a local U-14 team, who were getting introduced to the concept of football.
A sensational through-ball in the 14th minute unleashed Fabregas into the penalty box, and a tidy cross to David Silva, who headed home, put Spain ahead early on.
From then on, Italy never really recovered. Spain's runs into the penalty box became all too common. The finishing perhaps lacked the finesse that the injured David Villa could have provided, but Italy were being pushed back further. Attempts to counter La Roja on the break did not reap benefits, with the Spanish defence holding ground and the midfield intercepting many attempted passes.
A 1-0 lead seemed too insignificant for La Roja. A sensational through-ball by Xavi and a phenomenal run from behind the half-line by Jordi Alba set the platform to stretch the lead. The latest addition to the Barcelona squad, Alba netted home sweetly in the 41st minute to end the first half with Spain very much in control.
Antonio Di Natale, who scored against Spain in their first match of Euro 2012, was brought on for the Azzurri in the second half. He made his presence felt almost immediately with a couple of shots either just scraping the net or testing Casillas. When an apparent handball by Leonardo Bonucci was waived off by referee Pedro Proenca, luck favoured the Azzurri.
On the other side, to provide further impetus to the Spanish attack, Pedro was brought in for score-opener David Silva. Short Silva perhaps lacked the physique to break through the Italian defence, when a couple of passes headed his way did have the potential to be at least shots on target, if not goals.
When Thiago Motta, who had come on as a substitute, had to be stretchered off close to the hour mark, 10-men Italy would have felt a chill run down their spine. With no substitutions left for Azzurri coach Cesare Prandelli, facing a fully energized squad that manipulates opposition defence and controls play using the famous tiki-taka football was undoubtedly a Herculean task. Prandelli, who had made trips to pilgrimages after Italy's progression in the competition, needed some divine intervention to break the midfield stronghold of La Roja.
Except win free kicks, some of which were undeserved, Mario Balotelli provided no valuable contribution to the Azzurri attack. "Super Mario" was just a puppet dancing to La Roja's tune.
In the final few minutes of the game, as Italy kept chasing shadows, substitutes Fernando Torres and Juan Mata put their names as well on the score-sheet, with late goals in the 84th and 88th minute respectively.
Torres, who also scored the winner against Germany in the Euro 2008 final, became the only player in the world to score in two finals of the European Championships.
Xavi, who provided the assist to Torres, also became the first player to provide two assists in a final.
Spain captain and goalkeeper Iker Casillas became the first player ever in international football to win 100 matches for his country. He also set a new record of going 511 minutes without conceding a goal. Interestingly, Casillas conceded just 1 goal for La Roja in Euro 2012 in their first match against Italy.
Spain created history by becoming the first team to win 3 consecutive major international tournaments. They are also the first team to defend their Euro title, and have now equaled Germany's record of possessing 3 European titles. Spain's 4-0 victory is also the largest margin of victory in a Euro or World Cup final.
With so many records broken in 90 minutes, Spain's majesty on football now remains unquestionable. The supposedly "boring" or "lackadaisical" passing has proven effective. The critics have been silenced. Despite the economic problem back home, the country rejoiced heartily. No matter what happens to the Euro currency, whether it breaks or stays afloat, the European Champions are here to stay. Spanish football and tiki-taka are here to stay...