Tuesday was a moment of truth for Puerto Rico, as the island’s creditors were unsure whether a $355 million payment would be met or whether the island would default in order to force debt restructuring.

The island made the specific payment as $273 million of the amount due had constitutional guarantees; however, Puerto Rico defaulted in August to a $58 million payment. The

Puerto Rico has been dubbed "America's Greece." As Europe was bracing in agony for a possible Grexit in July 2015, Wol...


This story is part of New Europe's Premium content.

To Read the Full Story, Subscribe or Sign In from the ↑ Top of the Page ↑
new europe join now