There are more than 4000 spanish pilots looking for a job !! so easyJet won't have any problem to find people, even with a spanish contract
Bear in mind that Vueling and Clickair are expending like crazy (lots of new airbus in 2007) and hence it will not be that "easy" for an english company to be set up in Spain if they do not use the same spanish terms and conditions.
You want MAD, you sign this bloody spanish contract; you do not accept this spanish contract, then just stay at Luton or Stansted