Page 46 - 72 Billion News Today : Breaking News, Live Updates & Top Stories | Vimarsana

This is a part of the united states. it's tropical territory puerto rico. it's the next battleground for the debate over austerity and debt relief. back in june the islands governor announced it could $72 billion worth of debt. they got into that bind thanks to its crushing ten-year recession and some really terrible fiscal policies enacted by the local government. the obama administration has proposed a plan and a treasury official warned the senate that puerto rico could easily become a humanitarian crisis without federal action. senate republicans criticized the lack of cost estimates for t...

This endeavor, it would not be appropriate. >> reporter: clinton has joined president obama and republican jeb bush in calling for congress to give puerto rico the power to declare chapter 9 bankruptcy in the face of a $72 billion debt crisis. rubio opposes bankr joked at his rally today that perhaps clinton's plan to fix it got wiped from her server. in san juan, ed henry, fox news. now to the nightmare in europe over the quest for a better life. refugees in eastern year europe are taking matters into their own hands. we have fox team coverage tonight. william la jeunesse looks on pressure ...

Yesterday a new mark when it failed to pay the debt bill. steve, break it down. what are implications of this default by puerto rico? >> don't worry too much. puerto rico owes $72 billion. more money from the greek. defaulted first time in years. it defaulted on $58 million payment. the question is, is this part of a bigger restructuring of $72 billion worth of debt which the governor said is not tenable. we cannot repay the interest and debt. is that going to affect mutuals and main street investors? that's a big question. big questions to citi group. a bureau was set up to look at practices ...

They had a yesterday free fall in the first day of trading. leaders in athens expected to roach a deal with a bail out. a deal must be reached by august 20th or the country goes in defall. puerto rico is also in dire straits. the ilanis 72 billion in debt and cannot make a payment on the loan. that is causing concerns for investors here in the u.s. they are joining us live from the capitol in san juan, puerto rico. >> reporter: a lot of investors and millions of retirees are holding puerto rico debt. if you have open heimer or franklin templeton call your broker and find out if those individua...

China? go. >> china is still struggling. the stock market fell around 1.7% last night. that's on top of an 8.5% drop two nights ago. put that in perspective, our dow jones industrial average has only dropped 8% or more ten times in its entire history. china lost multiple trillions in market value in just 60 days. the government trying to intervene. this is not greece a small economy. this is the second largest economy in the world. one of the fastest growing and most important economies in the world. the stock market is absolutely sinking there. it is sparking a little concern. also, you have ...