The Bank of Spain also called Banco de España is the central bank of Spain. This Savings Bank is part of the European System of Central Banks. The main building of Banco de España is in Madrid. The nearby metro station in Madrid is named after the bank and is also called Banco de España.

The bank was founded by French-Spanish banker Francisco Cabarrús and King Carlos III in 1782 under the name Banco Nacional de San Carlos. After the French Revolution and Napoleonic Wars, the Spanish state had accumulated a debt of more than 300 million Real. To pay this debt, in 1829 the finance minister established a fund of about 40 million Real that allowed the bank to issue its own banknotes within Madrid. Along with this new asset, again the name changed, this time to Banco Español de San Fernando.

A few months after the outbreak of the Spanish Civil War, almost most of the gold reserves were taken to Moscow to pay for weapons (Moskougoud). This totaled about 510 tons of gold taken away from the bank.

In 1844, another bank called Banco de Isabel II established itself. After three years, the Banco Español de San Fernando merged with Banco de Isabel II, in the process retaining its name. In 1856, the name was changed to the current name of the Spanish savings bank, Banco de España. Almost 20 years later, the Banco de España was given the sole right to issue Spanish banknotes. In 1962, the Banco de España was officially nationalized by General Franco. The Spanish central bank also has another large art collection with paintings by Picasso and Goya, among others.

Outside the central bank of Spain you also have regional banks, the two largest being Santander Central Hispano and the BBVA. Outside these regional banks, you will find about 30 other banks that only operate nationwide.

Since the bank is no longer responsible for Spain's monetary policy, today it provides economic and monetary advice to the Spanish government. Beyond this, the Bank of Spain also issues euro bills and coins. The Bank of Spain oversees the Spanish banking system and manages its own valuation and precious metal reserves. Monetary policy is in the hands of the European Central Bank along with the EMU (Economic and Monetary Union). Since 2006, the bank's governor has been Miguel Ángel Fernández Ordóñez. Miguel is an economist and politician appointed to this position by the Spanish government.

The Spanish monarchy, like the Netherlands, has a royal family. Spain's current King Juan Carlos was born in exile because there was a civil war going on from 1936-1939. Spain experienced a period of dictatorship under General Francisco Franco after the civil war from 1939-1975. After Francisco Franco, Juan Carlos came to power, and to this day he is the king of Spain.

The King of Spain Juan Carlos lives with Queen Sofia in their palace, Palacio de la Zarzuela, in northern Madrid. Juan Carlos never wanted a dictatorship like Franco, which is why he restored democracy to Spain. In 1981, Juan Carlos gained much respect by preventing a military coup. Since then, all Spaniards have been proud of their king.

The Spanish royal family of King Juan Carlos and Queen Sofia consists of three children (Infanta Elena (1963), Infanta Cristina (1965) and Crown Prince Felipe (1968)) and eight grandchildren. Felipe is crown prince because a man has priority over a woman for the throne. However, this will change in the future since the crown prince, together with Letizia Ortiz Rocasolano, already has two daughters (Infanta Leonor and Infanta Sofia).

Spain's Crown Prince Felipe had a few bad relationships before he was engaged to television journalist Letizia. However, this is the first time in Spain that a commoner girl has married a future Spanish king and she will become Queen of Spain. Princess Letizia is also known for her fashion-conscious clothing style and her always unusual shoes. Inside the Royal Family, Infanta Elena has been divorced for several years, but has two children (Felipe Juan and Victoria Federica) with her ex-husband. Infanta Cristina is married to Iñaki Urdangarin Liebaeert, together they have four children (Valentin, Pablo Nicolas, Miguel and Irene).

This year’s Royal wedding was proof of how much the Brits (and the rest of the world it seems!) love their royal family. But did you know that throughout the long history of Britain’s monarchy a few Spaniards have been in there too?

The British and the Spanish have not always been on friendly terms, way back in the past, but there have been moments when the two countries have been linked through royalty.

Back in the 16^th century, King Henry VIII was famous for his succession of six wives, and on of them was Spanish! His first wife, Catherine of Aragon (known in Spanish as Catalina de Aragón) was in fact the daughter of the Spanish king and queen of the time, Ferdinand II and Isabella I, famous for sponsoring Columbus’ journey to America. She had also been previously married to Henry VIII’s brother, Prince Arthur, and clearly had a thing for the family! Through her marriage to Henry VIII she was Queen of England from 1509 to 1533, until the king wanted a divorce. He had fallen in love with another woman, to become his second wife, and Catherine was now too old to bear children. Despite being pregnant 6 times, only one of their children survived, Mary I, and Henry believed this to be a punishment for marrying his brother’s widow.

Mary I would also find a Spanish partner, in the form of Phillip II. His family wished for him to marry Queen Mary in order to gain a higher social status and he did just that, ruling England and Ireland alongside her until her death in 1558, when he lost his rights to the throne.

Perhaps the most unlikely Spanish monarch however was during the reign of Henry VII, the father of Henry VIII. Juan de Lepe, a sailor from the Andalusian town of Lepe, one day on his travels ended up in the court of Henry VII and somehow came to be a sort of court jester and assistant of the king. The two enjoyed playing cards and chess together and one day, thinking he had won, the king gambled the throne of England for 24 hours. Juan de Lepe accepted and won the bet, making him King of England for just one day. The Little King of England, as he was known, made the most of the occasion and made himself rich, as well as later requesting that the fact that he was King of England for a day be written on his tombstone!

So it turns out that Great Britain and Spain have an intertwining Royal history. If you want to know more about Spain’s fascinating history, why not take a Spanish and History course in Spain?

A Spanish designer has been in the fashion, technological and medical spotlights over the last few days after revealing his fascinating new invention - spray-on clothing that can be washed and worn again!

Along with scientists at Imperial College London, Manel Torres invented a spray of tiny fibres and polymers which create a seamless fabric when applied to the body. The outcome varies depending on whether wool, linen or acrylic fibres are used and depending on what colour they are.

The ultimate figure-hugging garment, a t-shirt takes around 15 minutes to spray on – somewhat longer than the few seconds needed to pull on a normal piece of clothing! But the potential uses for this new technology stretch far beyond the fashion world, with other possible applications in upholstery for cars and furniture, as well as in medical fields, including spray-on bandages and hygiene wipes, which would not require any pressure or contact on wounds or burns, for example.

Watch a video of this intriguing new technology in action here.