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Puerto Rico creditors meet on growing fears of default
Financial Times ^ | 1/15/14 | Henny Sender

Posted on 01/15/2014 12:45:16 PM PST by Kartographer

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Creditors to Puerto Rico are meeting in New York on Thursday with lawyers and debt restructuring specialists as a moratorium on payments on the territory’s $70bn in public sector debt and an additional $40bn of unfunded pension liabilities appears increasingly likely, these specialists say.

A possible suspension on payment of the debt comes despite the progress Puerto Rico’s governor Alejandro Garcia Padilla has made in raising taxes and reducing the territory’s deficit.

(Excerpt) Read more at ft.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: puertorico

1 posted on 01/15/2014 12:45:16 PM PST by Kartographer
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To: Kartographer

Another forerunner of the eventual US debt reckoning....


2 posted on 01/15/2014 12:47:09 PM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: Kartographer

Coming to a U.S.A. near you soon.....


3 posted on 01/15/2014 12:47:47 PM PST by F15Eagle (1Jn4:15;5:4-5,11-13;Mt27:50-54;Mk15:33-34;Jn3:17-18,6:69,11:25,14:6,20:31;Ro10:8-11;1Tm2:5-6;Ti3:4-7)
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To: Kartographer
¡Puerto Rico! ¡Independencia hoy!
4 posted on 01/15/2014 12:55:44 PM PST by Paine in the Neck (Socialism consumes everything)
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To: Kartographer
Would you accept goat milk?


5 posted on 01/15/2014 1:03:43 PM PST by DannyTN (A>)
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To: Kartographer

Why don’t Puerto Ricans write checks?

because they are to hard to write using spray paint.


6 posted on 01/15/2014 2:17:16 PM PST by 12th_Monkey (In an alternate universe Obama still dips ice cream)
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