Skip to comments.Puerto Rico creditors meet on growing fears of default
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 territorys $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 Ricos governor Alejandro Garcia Padilla has made in raising taxes and reducing the territorys deficit.
(Excerpt) Read more at ft.com ...
Another forerunner of the eventual US debt reckoning....
Why don’t Puerto Ricans write checks?
because they are to hard to write using spray paint.