This article offers a critical account of Spanish high‐speed rail (HSR) through the lens of the spatial fix. I designate the integration of Spanish HSR into a European‐wide process of circulation of finance capital as the HSR‐finance complex. The analysis of the inner workings of the HSR‐finance complex reveals the way in which European finance has laid the conditions of possibility for the development of the project and offers a forewarning about the dangers of leveraging finance capital toward green infrastructure. The analysis of the Spanish HSR‐finance complex shows that the particular form of capital circulation that has made it possible has not brought about new productive combinations but has instead deepened traditional relations of economic dependency and magnified their socioenvironmental consequences.

中文翻译：

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铁路的第二次来临：西班牙高速铁路金融综合体

本文通过空间定位的角度对西班牙高铁（HSR）进行了详尽的介绍。我指定将西班牙高铁纳入欧洲范围内的金融资本流通过程，作为高铁财务综合体。对高铁财务综合体内部运作的分析揭示了欧洲金融为该项目的发展奠定了可能条件的方式，并就利用金融资本发展绿色基础设施的危险性提供了预警。对西班牙高铁财务综合体的分析表明，使之成为可能的资本流动的特殊形式并未带来新的生产性结合，而是加深了传统的经济依存关系并放大了其社会环境后果。