The mistrust triggered by the new obligation to declare assets located abroad is just one of the reasons pushing hundreds of thousands of elderly Europeans to drop off the official statistics, and in many cases, bid Spain farewell forever.
The lack of opportunities for young people, the cost of living and statistical engineering on the municipal rolls all go some way toward explaining a population drop that is causing lost sleep for many coastal town authorities.
A few Europeans are still being attracted by low house prices, but they are swimming against the tide of expats who are packing up their things and going home
Source (El Pais): http://elpais.com/el...381_078071.html
The new Tax rules (mainly aimed at foreign Residents) are killing off the "Goose that Laid the Golden Egg" that protected Spain from the worst of the recession - i.e. ExPat money and investment in local Communities.