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Hello once again, Spain's economy is challenging but things are improving if you go by current reports. MBA graduates have been doing good even during bad economy days.
Spain is home to three of the world's best b-schools - ESADE, IESE and IE. They are also among the best MBA job placement schools, I will suggest you take a look at the career reports of each. Spanish language is not compulsory as programs are offered in English but I will strongly urge you take up Spanish language classes for ease of communication and value addition overall. As a passout from a Spanish b-school you will have access to the rest of Europelike many MBA graduates have, so you have a choice here either you can stay back in Spain or move out, at the end however getting a job will depend on your own skills. For the education system take a look at http://www.studying-in-spain.com/spanish-education-system/
Hope it helped.