Draghi’s Bond Rally Masks Debt Doom Loop Trapping Spain

The bond rally that has sent Spanish borrowing costs to 10-month lows has distracted attention from the nation’s growing debt pile. Spain’s budget deficit probably exceeded 9 percent for a fourth year in 2012 as Europe’s highest unemployment rate, a third recession in four years and the cost of …

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Draghi’s Bond Rally Masks Debt Doom Loop Trapping Spain

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