Greece in the Caribbean: Puerto Rico admits it's broke and can't pay debts

Monday, June 29th 2015 - 05:58 UTC

Full article 16 comments

Puerto Rico’s governor Alejandro Garcia Padilla has admitted that the island cannot pay its roughly $72 billion dollars in debts, an admission that will probably have wide-reaching financial repercussions beginning Monday. Last week the governor and his top staff anticipated they would seek significant concessions from the island’s creditors. Read full article

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Skip
Well after the unilateral inclusion of the territory on the UN Decolonisation list, I would have to say that this isn't a problem of the US but a problem of either the UN C24 Committee or the Puerto Ricans.
Jun 29th, 2015 - 06:28 am - Link - Report abuse 0
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golfcronie
Looks like another tinpot country to borrow money and not have the capacity to pay it back, just like Argentina and greece.
Jun 29th, 2015 - 07:12 am - Link - Report abuse 0
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Voice
It's not on the list Skip...
Jun 29th, 2015 - 11:02 am - Link - Report abuse 0
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Skip
Indeed, it was French Polynesia.

Oh well, guess independence is off the table for a while now anyway.
Jun 29th, 2015 - 12:25 pm - Link - Report abuse 0
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yankeeboy
PR has been a disaster since the liberals took it over and all the mfg moved off the island.
They get huge amounts of $ from the US Federal Gov't. They don't pay Federal Taxes. This place should be perfect.
But as always liberals ruined it.
Its dirty and dangerous, people don't even want to travel there.
Stupid people.
I have no idea how they're ever going to fix this mess.
Jun 29th, 2015 - 12:26 pm - Link - Report abuse 0
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HansNiesund
@3

Let's not be disingenous. It's not on the list (now), but that doesn't prevent the C24 breaching its mandate.

http://www.puertoricoreport.com/relationship-of-the-un-decolonization-committee-to-puerto-ricos-status-issue/#.VZFEM0bLo4Q
Jun 29th, 2015 - 01:25 pm - Link - Report abuse 0
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yankeeboy
We couldn't get rid of PR if we tried.
Jun 29th, 2015 - 05:20 pm - Link - Report abuse 0
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Conqueror
@7. Just let it die. Who would care? Although I met a model from there once who seemed to be open to an “introduction”.
Jun 29th, 2015 - 05:23 pm - Link - Report abuse 0
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ChrisR
”This is not politics, this is math.”

Another idiot who doesn't know that it's arithmetic: mathematics would be WAY beyond his comprehension.

Anyway WGAF?
Jun 29th, 2015 - 06:16 pm - Link - Report abuse 0
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argfellow
@5 yankeeboy . “This place should be perfect”

OF COURSE it SHOULD be.....!! Ha,ha,ha..! OF COURSE..! I heartily congratulate you, my dear fellow....! Wonderful...! Ha,ha, ha..! :
“Estado Libre Asociado” Ha,ha,ha,ha..! The small “latino” islet has been thoroughly trained by its big WASP master... Y0u should be PROUD of it! The pupil surpassing his professor..Because you have always had the upper hand, right...? They cannot fabricate dollar notes, as you do. In Spanish, it carries even more alacrity: ESTADO LIBRE ASOCIADO DE PUERTO RICO..Ha,ha,ha! Let us greet this exemplary couple of RESPONSIBLE partners...! Ha,ha,ha,ha..!
Jun 29th, 2015 - 07:19 pm - Link - Report abuse 0
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Skip
Huh?
Jun 29th, 2015 - 09:14 pm - Link - Report abuse 0
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argfellow
@2 golfcronie “Looks like another tinpot country to borrow money and not have the capacity to pay it back, just like Argentina and Greece”.

And the United States of America.
Jun 30th, 2015 - 01:44 am - Link - Report abuse 0
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Skip
Is the US in default?

Umm no!

Is Argentina in default?

Umm yes!
Jun 30th, 2015 - 02:33 am - Link - Report abuse 0
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argfellow
China and Russia seem to think differently.
Jun 30th, 2015 - 04:55 am - Link - Report abuse 0
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yankeeboy
I thnk the most shocking thing about going to PR is that the education system is so bad they speak both English and Spanish badly.
You can barely understand them in either language.

Most of the smart/wealthy/hard working PRs are already in the USA so they whole island is left with the dumb lazy ones like in Argentina.

I guess they could Federalize it and take away their budgeting/spending powers. Put in someone who can manage their finances like they did with DC/Detroit for many years. I don't think anyone cares about PR tho. Nobody ever talks about it.
Jun 30th, 2015 - 11:43 am - Link - Report abuse 0
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argfellow
You do, my esteemed censor. We are rather bored, I confess, of so many critics on an even keel, as yours. However, in this case, I may suspect that you are fond of masochistic experiences :
“Mujer, cierra las windowas, que si llueve, mojarán las furnituras”
And your answer :
¡ VIVA EL WASP..!
Jun 30th, 2015 - 01:30 pm - Link - Report abuse 0
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