Sovereign finances survived the global recession, just barely in some cases, but now Puerto Rico and Venezuela are insolvent. While the reasons for their plight may differ, there are lessons common to all defaults that investors and citizens should heed.
Nov 30, 2017 predicts that key similarities between Puerto Rico and Venezuela will emerge as their debt sagas play out.
Nov 9, 2015 & believe that restructuring should be subject to nine principles adopted in September by the UN.
Sep 2, 2015 says that the US and the island's government both bear responsibility for the deepening crisis.
Oct 6, 2016 & examine the perils holdout creditors now pose for countries, like Venezuela, facing sovereign default.
US President Donald Trump's impulsive decision to pull American troops out of northern Syria and allow Turkey to launch a military campaign against the Kurds there has proved utterly disastrous. But a crisis was already inevitable, given the realities on the ground and the absence of a coherent US or Western policy in Syria.
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