''Spain’s debt load to double since start of crisis, EU forecasts''

“The problem with Spain lies with the hidden risk from the potential transfer of banks’ debt to the state’s balance sheet,” said Thomas Costerg, an economist at Standard Chartered Bank in London.

Members of Prime Minister Mariano Rajoy’s government, in power since December 21 last year, have said the nation would struggle to meet the 4.4 percent deficit target this year while the economy was shrinking. The 8 percent shortfall estimated for last year compared with the previous administration’s target of 6 percent."

from iol........