The risk of a Spanish debt restructuring is higher now than it's been since the beginning of the crisis, said Citigroup Inc. chief economist William Buiter in a research comment published Wednesday. "Spain looks likely to enter some form of a troika program this year, as a condition for further European Central Bank support for the Spanish sovereign and/or Spanish banks," said the former Bank of England Monetary Policy Committee member. A week ago, Buiter told Bloomberg TV that he was increasingly worried about a default for Spain. In the note, Buiter said Spain can avoid restructuring, but that it would involve ... (full story)