It seems that, since Puerto Rico is not a repeat offender on the bankruptcy list(from my knowledge, I could be wrong), they have more of a chance to recover and still be in good nature with the rest of the world. Greece, however, has done this before in the past, so I think that the EU is just getting sick of them.
I was also thinking about the same thing. It seems like the citizens who are affected are not in any way revolting about their current economic situation especially in Greece. Not that I would want some sort of disturbance within the peace of that country. I see the images of people lining out outside banks in Greece which have closed and I somehow pity their situation. Yes, I think Puerto Rico will come out of this situation without having to reach the point where Greece is right now. I just hope their leaders will do all the right things to save their economy from the crisis of debt.
The Greeks have set a bad example for everyone. Those who owe debts will not bother trying to pay their debts claim they don't have the money and that sort of thing. But $72 billion certainly is a lot of money but whether they aren't able to pay the money or not question is what have they learned from all that? It's poor financial planning, bad decisions, etc which led them down that path and to fix their problems those issues must be addressed first.
The trouble now is that if Greece are allowed to default on their loans, and as from today they have done, then what's to stop other countries thinking they can do the same? While I'm sure that somebody agreement will be out in place and Greece won't get away with not paying anything back, it's certainly going to give others ideas regarding what they owe and the payment they have been asked to make. The same rule needs to apply to every country that's in crisis, Greece, up to now anyway, seem to have rewritten that rule.
Puerto Rico also just raised their sales tax from 7% to 11.5% to try to solve their debt problem. It is hard to imagine it is going to help the already teetering economy down there.
