How big a deal is Puerto Rico debt crisis?

June 30, 2015 7:20 AM

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How big a deal is Puerto Rico debt crisis?

No US state has had, in recent memory, the kind of large-scale debt restructuring that's being talked about for Puerto Rico. Still, the crisis may have only a limited effect on financial markets.

Puerto Rico’s governor says that the territory’s $72 billion in public debt is unpayable and that large-scale restructuring of the debt is required.

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