BY Ryan Villarreal and Eleazar David Meléndez | November 12 2012 2:43 PM

Foreclosure SignA foreclosure crisis months in the making finally blew wide open in Spain this weekend when, in response to a string of dramatic suicides by people being evicted from their homes, the government declared “a temporary stop to the eviction of the most vulnerable families.”

Anti-eviction activists protest at the entrance of PP Barcelona’s office.

The announcement by president Mariano Rajoy in a political meeting on Saturday was a shock to most, so much so that cynics were calling the action a politically motivated canard.

But regardless of the timing and immediate impetus for the announcement, it’s been received in Spain and elsewhere in Europe as a critically important turning point in the Spanish financial and sovereign debt — and now political — crisis, which seems to be getting worse each passing day and has no clear end in sight.

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