Spain’s economic problems are not being helped by attempts to disguise debt in official figures
Garicano, L.
(2012).
Spain’s economic problems are not being helped by attempts to disguise debt in official figures.
(2012).
Spain’s economic problems are not being helped by attempts to disguise debt in official figures.
This week Spain formally requested 39.5 billion euros of European funds to recapitalise Spanish banks. Luis Garicano writes that one of the key issues exacerbating Spain’s economic crisis is the tendency to disguise debt in official figures. He argues that in several areas of the Spanish economy it is better to accept money has been lost, rather than spend further funds simply to maintain an appearance of sustainability.