Spanish debt: The ironies of history

Miguel Navascues  |  November 7, 2017

By Miguel Navascues, includes “… The government and Brussels have joined forces to try to pull the wool over our eyes in this respect, using the Excessive Deficit Procedure (EDP). This is an accounting system which eliminates the debts between different administrations (for example, between Catalonia and the central government). This is logical from an accounting point of view, but not from an economic point of view, because this debt will never be paid. …” 

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