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Tag: Governor Alejandro Garcia Padilla

AP Photo/Ricardo Arduengo

Puerto Rico is America’s Greece as Territory Threatens Default

Americans do not need to worry about the financial travails of Greece, we have our own debt crisis in Puerto Rico. Prices of the U.S. territory’s general obligations bonds that were issued in March of last year fell to 70 cents on the dollar after Democrat Governor Alejandro Garcia Padilla said investors should be “prepared to sacrifice” being paid back if they want the insolvent island’s economy to grow.