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MAR 27, 2013 - Zero Hedge

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Here We Go Again: Spain Says 2012 Budget Deficit "Will Be Bigger Than First Estimated"

Back in December 2011, Europe swooned and bond yields soared when it was shocked, shocked, to learn that Spain had been lying about its budget deficit all year, a number which was subsequently hiked several more times. Then in 2012, to keep up with the pretense that things are better, Spain once again did what it does best: fudged numbers, this time desperate to make it appear that its actual government deficit was better than expected because one had to 'obviously' exclude all those items that are not part of the government spending... like payments for its broke provinces, or indirect ... Read More

Tags: Here We Go Again: Spain Says 2012 Budget Deficit "Will Be Bigger Than First Estimated",  Taxes Latest News