How common is it for European companies to hire developers living in other EU countries to work remotely or for a local office? I'm not planning on leaving my

How common is it for European companies to hire developers living in other EU countries to work remotely or for a local office? I'm not planning on leaving my current company or country soon, but Spain seems like a nice backup plan should things go south in the US. Unfortunately, their economy doesn't seem great. Assume knowledge of English, Spanish, and a willingness and ability to learn the language of the hiring company. Is this a pipe dream? It seems like the ability to hire across the Schengen zone would be a great advantage to European tech companies.