Under the Greece-evoking headline, ‘Hidden’ debt raises Spain bond fears, Financial Times Madrid correspondent Victor Mallet proceeded to outline the hypothesis of Spanish Cato Institute fellow (and vocal political activist, if it need be said given the company he keeps), Lorenzo Bernaldo de Quirós, that the probable overturning of many regional and local governments in the upcoming vote would result in 26.4 billion euros of concealed debt – specifically attributable to the myriad government-owned corporations conjured into existence for a variety of motives - being brought out into the open. Ignoring for the moment how Mr. Bernaldo de Quirós might have come up with so specific a figure … [Read more...] about All too predictable