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Fault Lines - The Puerto Rico Gamble

In June, Puerto Rican Governor Alejandro Garcia Padilla announced that the island had accumulated $72bn in debts and would not be able to pay them back anytime soon. The announcement touched off a new struggle over who should pay for the debt crisis.The US territory has not yet recovered from the effects of the global financial collapse, and poverty, unemployment and inequality rates far eclipse those in any US state.Simultaneously, Wall Street investors have taken a new interest in the island.

 

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