It sure looks like it. Here's some striking video footage from Madrid.
There's rioting in Madrid and massive demonstrations in Barcelona calling for Catalan independence. This is probably the biggest turmoil in Spain since at least the death of Franco, and perhaps since the Civil War of 1936 - 1939.
It never ceases to amaze me when I listen to economic authorities discuss unemployment numbers hovering around 25% in strictly actuarial terms. It never seems to occur to them that the inevitable consequence of unemployment on that large a scale is political crisis and even national disintegration.
Not very many countries survive 25% unemployment. The United States did, but just barely. Germany didn't.