Although House Speaker Paul Ryan (R-WI) warned that Congress needs to “bring order to the chaos” in Puerto Rico, conservative House Republicans are giving the cold shoulder to a plan that would let Puerto Rico wipe out $33 billion of its $73 billion debt in bankruptcy.
Contents: Puerto Rico avoids default with partial bond repayment; Central Africa Republic votes for new president and legislature
Contents: Puerto Rico negotiates restructuring after Congress fails to allow Chapter 9 bankruptcy; China’s military on high alert when US bombers flew over South China Sea; Delusional claims made during the Democratic debate
Contents: Big losses expected Monday when Greece’s stock market reopens; Puerto Rico to default on Tuesday; Venezuela’s collapsing economy receives $5 billion from China; Venezuela in border dispute with Guyana; Turkey returns to war with the Kurdish PKK
The effort to relieve, or bail out, the U.S. commonwealth of Puerto Rico from its current economic struggles has just received a big boost from the Obama administration.
Contents: Iran blamed for terrorist bombing in Bahrain; Puerto Rico expected to default on Saturday; China’s government to continue buying stocks to stabilize markets
