White Elephant Inc: This is What I Love about Spain

No risks, all rewards – the perfect business model!

December 22 was Christmas Lottery day in Spain. The so-called El Gordo (the fat one) is a landmark event in which thousands of people up and down the land win thousands – or even hundreds of thousands – of euros, while many others quietly curse their misfortune and slightly lighter wallets and purses, promising never to do it again, until next year!

Yet while the general public is barely able to contain its excitement over the tiny prospect of winning a few thousand euros, most people are blithely unaware that the Rajoy government is about to leave them holding a tab estimated to be worth €4.7 billion

Continue reading the article at WOLF STREET

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