Puerto_Rico_Economy

Puerto Rico’s governor says island cannot pay back $70 billion in debt, is near ‘death spiral’

The governor of Puerto Rico has decided that the island cannot pay back more than $70 billion in debt, setting up an unprecedented financial crisis that could rock the municipal bond market and lead to higher borrowing costs for governments across the United States. Puerto Rico’s move could roil financial markets already dealing with the…

Rafael Correa

In candid interview, Correa discusses Ecuador’s economy, slams world bankers, says Venezuela made financial mistakes, and pleads case for Julian Assange

In candid interview, Correa discusses Ecuador’s economy, slams world bankers, says Venezuela made financial mistakes, and pleads case for Julian Assange Editor’s note: The following is an interview with President Rafael Correa conducted two weeks ago by Euronews and released last week. Correa was in Brussels for a meeting between European Union officials and the…

US Passport

These 19 passports will be a lot more valuable on July 1st

It seems strange that a complete accident of birth has such a massive impact on someone’s life. We don’t get to control where we’re born. It’s a fluke really. Yet as soon as we come into this world a particular nationality is thrust upon us like a birthmark that stays with us for life. Our…

AIIB

It just happened: The moment the United States lost its role

Last week, the government of China closed the enrollment window to join its new Asian Infrastructure Investment Bank (AIIB) as a ‘founding member’. The AIIB, if you haven’t heard of this yet, is designed to essentially displace the Western-controlled IMF and World Bank. And prior to last Tuesday’s deadline, dozens of nations around the world…