The theatre on the south side of the square opened in 2006 on the site of the Teatro Olimpia, a hall that had stood here for decades before it eventually fell empty, and today it's one of the two homes of the , Spain's national drama company.
The fact that a national company would set up shop on this square tells you something about how the neighbourhood has shifted, because for much of the twentieth century was seen as the wrong side of the centre, and now there's a theatre here paid for by the ministry. The name points to , the writer who came up with the , a form that distorts reality like a funhouse mirror so you can see it more clearly.
The posters beside the entrance tell you what's on, and the programme is rarely what you'd expect from a state theatre.
From the square we take Calle de Valencia west, until we reach a market hall where it meets Calle de Embajadores.
Sources. Story: Centro Dramático Nacional, Instituto Nacional de las Artes Escénicas y de la Música; Ayuntamiento de Madrid, esMadrid. Photos: Photo of the Teatro Valle-Inclán: Eduardo, CC BY-SA 2.0 via Wikimedia Commons.
