Breaking: Puerto Rico’s governor: Island’s debts are ‘not payable’

Quote:The New York Times, in its report on the governor of Puerto Rico acknowledging its debts are ‘not payable,’ called the admission ‘startling.’ The Times: ‘A broad restructuring by Puerto Rico sets the stage for an unprecedented test of the United States municipal bond market, which cities and states rely on to pay for their most basic needs, like road construction and public hospitals’.

 

 

FLASHBACK TO THREE YEARS AGO:

 

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