SAN JUAN, Puerto Rico (AP) — Puerto Rico's governor said Monday night he will form a financial team to negotiate with bondholders on delaying debt payments and then restructuring $72 billion in public debt that he says the U.S. island can't repay.
On the eve of an expected debt default that could set Greece on the path to a euro exit, Prime Minister Alexis Tsipras sought to calm nerves by leaving the door open to talks, saying the July 5 plebiscite on creditors' latest cash-for-reform plans would leave the country "better armed" in the fight for a debt deal. Earlier on Monday, an emotional EU chief Jean-Claude Juncker bitterly criticised Tsipras, saying he felt "betrayed" by the leftist Syriza government's behaviour and adding it was time to tell voters "the truth". Other EU leaders including Germany's Angela Merkel France's Francois Hollande and Italy's Matteo Renzi put up a united front, stressing that the bailout referendum was effectively a vote on Greece's place in the euro.
SPRINGFIELD, Ill. (AP) — Illinois' Republican governor and the state's largest employee union moved Monday to avoid a partial government shutdown, with the union saying members will continue to show up for work even if the state begins operating without a budget and the governor pledging to do what he can to ensure they don't miss a paycheck.