The Financial Troubles in Greece and Puerto Rico

In light of the major economic events occuring over the weekend in Greece and Puerto Rico, we compiled our recent works on these topics for use in the coming days.

Greece – Rob Shapiro has assessed the financial circumstances in Greece in a recent report, "How Greece Could Short-Circuit the U.S. Expansion." He says in part: "This crisis has unfolded in fits and starts for a long time, and the EU and the European Central Bank (ECB) have spent hundreds of billions of Euros trying to support those bond markets and strengthen the banking system. No one knows if it will be enough to stave off the worst-case scenario. But if a genuine crisis unfolds over the next month or so, everyone does know that European voters will never accept another bank bailout. And if Europe’s economy falls into a tailspin, the ECB will have little room to support and stabilize it by cutting interest rates."

Puetro Rico – Last fall, NDN was among the first organizations to raise the alarm bell about Puerto Rico, publishing a series of reports/essays and participating in meetings inside the Administration and on the Hill. We released a paper tackling Puerto Ricos' debt crisis: "To Reclaim Prosperity, Puetro Rico Should Adapt Ireland's Model for Modernization." Afterwards, Simon and Rob published additional analysis, writing an op-ed in Fusion/Univision (in both English and Spanish) and a follow-up op-ed in Roll Call.