Puerto Rico
"This is a solemn event to celebrate the fruit of our sacrifice."
The U.S. commonwealth paid only $628,000 of a $58 million payment due on its Public Finance Corp bonds.
WHAT'S HAPPENING
The Maryland Democrat calls for swift action in the face of the islandâs potential default.
Unable to pay $72 billion in debt, the U.S. territory is on thin ice as citizens' needs collide with empty coffers.
Although a variety of suggestions have been proposed to save the island from default, here are four reasons a clearly articulated, multi-year transition to independence is the only long-term viable solution for Puerto Rico.
Report says the debt-burdened island doesn't have to go into default if it slices spending.
