RAJ REPORT

Could Queensland be the next Greece——–Strained by debt, Puerto Rico says Washington must help | Miami Herald Miami Herald———–“This is not about politics,” said Garcia Padilla. “It’s about math.” The territory’s plight is also a potentially explosive issue in Washington, where Congressional Republicans mostly oppose any step that would allow Puerto Rico to seek bankruptcy protection to restructure its debts and clean up its fiscal mess.

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Groaning under at least $73 billion in debt, Puerto Rico – which is being called “America’s Greece” – is staggering down a path toward default, a scenario that could ripple across cities and states that depend on bonds for building everything from schools to stadiums.

“This is not about politics,” said Garcia Padilla. “It’s about math.”

The territory’s plight is also a potentially explosive issue in Washington, where Congressional Republicans mostly oppose any step that would allow Puerto Rico to seek bankruptcy protection to restructure its debts and clean up its fiscal mess. Meanwhile, the White House has offered only modest assistance in the roughly three years of crisis talks and has avoided taking any position on whet

 

 

 

Strained by debt, Puerto Rico says Washington must help | Miami Herald Miami Herald.

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