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The Bank of Spain was founded in 1856 and 20 years later acquired the exclusive right to issue bank notes in its name. The most impressive part of these headquarters is the corner section, decorated with typical Neo-Baroque ornamentation – caryatids and medallions, a marble clock and the distinctive golden globe. Spain’s gold reserves are locked away in the vaults beneath Plaza de Cibeles. Apart from gold, the bank’s main treasure is its art collection, with works ranging from Goya to Tàpies. It can only be viewed by written application to the bank.

Not a casino but an exclusive gentlemen’s club, founded in 1910. The florid architecture by Luis Esteve and José López Salaberry is typical of the period. No expense was spared on the lavish interior which, unfortunately, is not usually open to the public.

Now the headquarters of Spain’s national telephone company, this was Madrid’s first high-rise building. Designed by American architect Lewis Weeks in 1929, it reflects the values of the Chicago School then much in vogue. The Telefónica building played an important role in the Civil War when it was used by the Republican army as a vantage point for observing enemy troop movements in the Casa de Campo. Conversely, Franco’s forces found it an ideal range finder for their artillery. The Fundación de Arte y Tecnología Telefónica has an interesting exhibition on the history of communications, as well as a splendid art collection, with works by Picasso, Juan Gris, Eduardo Chillida and Antoni Tàpies.

The story of the founder of Spain’s premier department store, Ramón Areces Rodríguez, is a classic tale of rags-to-riches. Rodríguez emigrated to Cuba aged 15 and worked as a shop assistant before returning to Spain in 1934. The following year he opened a small tailor’s in Calle de Preciados and never looked back. Nowadays you’ll hardly leave your hotel without noticing the distinctive white shopping bags with the green logo. The store at Preciados No.1 sells CDs, No.2 stocks more than half a million books and No. 3 specializes in fashion. There are more than half a dozen other branches in the capital.

It was La Unión y el Fénix insurance company, the original owners of this Madrid landmark, who commissioned the striking statue on the cupola. Known as “Ave Fenix” , it represents the fabled Egyptian bird which died on a funeral pyre but rose from the flames once every 500 years. When the Metrópolis company moved into the building, they inherited the sculpture which then lost its significance (see Metrópolis).

The look of this busy square reflects the sleek modernist architecture of 1930s America. Good examples are the curved Art Deco façade of the Carrión building (No. 3), the Palacio de la Prensa (No. 4) and the Palacio de la Música (Gran Vía 35), all now cinemas. Madrid is one of only a handful of cities in the world where you can still see hand-painted film posters.

Ten streets radiate from this elliptical square, which for most madrileños is the real heart of the city. The name means “Gateway of the Sun” although the actual gateway was demolished in 1570. Of numerous historic events to take place here, the most dramatic occurred during the 1808 insurrection when snipers fired on one of Napoleon’s soldiers, provoking a massacre. Dominating the south side of the square is the 18th-century Casa de Correos, a post office which later became the Ministry of the Interior and the headquarters of General Franco’s secret police. A marker in front of the building indicates “kilómetro cero” , from which all distances in Spain are calculated. In the centre of the square is a statue of Carlos III and, on the corner of Calle del Carmen, a bronze statue of a bear climbing an arbutus tree, the symbol of the city.

Founded in the 18th century, the palatial premises of the Academy of Fine Arts house a collection of paintings surpassed only by the Prado and the Thyssen Bornemisza. Outstanding among the Spanish paintings are the Goyas, including the classic fiesta scene Burial of the Sardine . The academy also has an impressive array of works by European masters including Bellini, Tintoretto, Van Dyck, Rubens and Titian. Picasso and Dalí studied here for a time.