When ever these reports surface and there has been several rumours in the last few years of figures being massaged and covered up the governments response is always the same. Shoot the messenger. Or it’s an Anglo-Saxon conspiracy by short sellers.
I have said for some time on here that Spanish economic figures didn’t add up. Manipulation of state economic data is a national sport within the EU. Particularly in France where they simply don’t understand market economics or the value of competition.
Given that the property market is being currently manipulated by banks, ECB and just about every other institution it would very surprising if it ended there.
However if the experience of Greece is anything to go by, they can only do it for so long before the dam bursts and the truth is revealed. Then the only sanction against those responsible for the mess they leave behind is a change of government. Then off they shuffle with fat pay off’s and retirement pensions.
Spain is not Greece we hear them say. Don’t believe it.