Tuesday, May 17, 2011

SPAIN may have billions of hidden public debt:
Spain’s regional and local administrations have “hidden” debt, not included in the official accounts, amounting to about 26.4 billion euros ($37 billion), according to research by Freemarket Corporate Intelligence, a consulting firm, the Financial Times reported.
And there's regional and local election this Sunday, with a big shakeup expected. Incumbents have been hiding all this dirt under the rug, to save face during the campaing. If they're sent home, it'll come out. Can't wait.