Puerto Rico and Greece: A Tale of two defaults in a monetary union. CEPS High-Level Brief. 18 June 2015, Update 30 June 2015

It is widely argued that the problems of Greece in the eurozone derive not only from mistakes made by successive Greek governments, but from deep-seated problems with the design of the euro area. The euro area is judged to be incomplete because it does not have any fiscal shock absorbers, nor a federal transfer system, and, according to many, it has imposed senseless austerity on the country. The US, by contrast, is often held up as an example of a complete monetary union in this type of problem could not arise. However, the working of the US is much less perfect than it appears from afar. The ‘genuine’ economic and monetary union, which undoubtedly exists in the US, also has problems in dealing with low-performing states in terms of productivity and governance. Puerto Rico exemplifies these difficulties and shows that in such an integrated area similar problems, including a fiscal crisis can arise. Both Puerto Rico and Greece are very special and extreme cases within their respective unions, but the strength of a system can be measured by how it deals with these cases.

The Jewel cutting and polishing industry in Puerto Rico.

Cover title.

Economic study of Puerto Rico : report to the President /

Includes bibliographies.

Puerto Rico : Commonwealth election law and its application to a political status referendum : report to the Chairman, Committee on Energy and Natural Resources, U.S. Senate /

Running title : Puerto Rico's status referendum.

Puerto Rico's political future : a divisive issue with many dimensions : report to the Congress /

"B-193013"--Prelim. p.

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"B-234765"--P. 1.

Potential economic impacts of changes in Puerto Rico's status under S. 712.

"April 1990."

The economy of Puerto Rico, with special reference to the economic implications of independence and other proposals to change its political status under the general provisions of section 332, part II, title III, Tariff act of 1930.

Reproduced from type-written copy.

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Mode of access: Internet.

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"Address by Hon. Luis Muñoz Marín, former Governor of Puerto Rico, on 114th anniversary of birth of Puerto Rican patriot Luis Muñoz Rivera, July 17, 1973, Barranquitas, Puerto Rico."

Economic impact of effluent regulations on the rum industry, Puerto Rico and U.S. Virgin Islands /

Study conducted by Development, Planning and Research Associates, Inc.

Memoria - Sociedad de Auxilio Mútuo de Puerto Rico.

Mode of access: Internet.

Reglamento para el Asilo de beneficencia de Puerto-Rico.

Mode of access: Internet.

Anuario estadístico, Puerto Rico. Statistical yearbook, Puerto Rico.

Mode of access: Internet.