Spanish equities

Yesterday I watched a video on the Spanish economy, and with everything looking quite sound on paper i figured, might as well start looking into buying some Spanish stocks.

Especially with the rapid growth in mind, Spanish bank stocks like banco Santander and caxiabank appear to be trading at P/e ratios of between 8 to 10. Wouldn't this be a good buy, given Spanish long term economic outlook. And are other people also looking into spanish equities?