24 Dec, 2015 @ 14:42
1 min read

Student forecast Spain’s largest ever bankruptcy in economics paper

Abengoa kid
Pepe Balta
Pepe Balta
Pepe Balta

A 17-YEAR-OLD whizzkid forecast Spain’s largest ever bankruptcy after the world’s second biggest auditors had given the business the all-clear.

Spanish schoolboy Pepe Balta, now 18, predicted energy giant Abengoa’s collapse in his 18-page economics paper.

Auditors Deloitte & Touche spent €20 million over three years auditing Abengoa’s books, but Pepe accessed the company’s 2012 and 2013 accounts on their website.

“If it doesn’t act quickly, Abengoa has a strong risk of going into suspension of payments,” Pepe’s report read.

Pepe scored full marks for his school paper and is now studying at Barcelona’s University of Medicine.

Staff Reporter

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