The island of Puerto Rico just got tore up due to a hurricane. Adding to the tradgy that this event caused human life, also The island is more in financial perril. The island was on the hook to pay around $123 billion dollars and some people have got the idea that if the island stops being a territory of the u.s. and becomes an actual state, they think the debt problem will go away.
The point that I am getting at is that 'what happens when you take a cash straped island that incorrectly thinks that statehood means debt relief, and then you add to it a tradgy that will cost more money?'
https://www.yahoo.com/news/puerto-rico-virgin-islands-brace-hurricane-maria-100652998.html
Oof. Sounds alot like the problems Greece in some ways. Of course they didn't get hit with a hurricane but they did see plenty of migrants and refugees.
Please tell me about what Greece went through (because situations tend to repeat themselves) Thanks!
Who knows what will happen, and I am not an expert on Greece. But from what I heard it seems like they sold off many of their public lands, islands, harbors, etc. to banking interest and wealthy people just to make a tiny dent in the debt they owe. Land and asset grab.
That's a terrible idea :) Rome was in financial trouble and they sold off assets (instead of reducing spending) as a result they got father and farther behind. Its like quitting your job so that you can free up your time to make more money!
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