Puerto Rico

The story happened on the other side of the pond, but its indirect relevance with cash-strapped Greece is noteworthy. Danny Chasteen was the ‘unlucky’ man to win the lottery in the State of Illinois.

Nobel laureate Paul Krugman writes in The New York Times that while Puerto Rico missed a bond payment, with many comparing it to Greece the two are very different cases.

One of the most popular explanations behind the eurozone?s, and specifically Greece?s, woes is that the common currency area, unlike the United States, lacks a fiscal union. I was a firm adherent of this view until recently, but recent research has led me to question my views.

Nobel laureate and New York Times columnist Paul Krugman said he overestimated the Radical Left Coalition (SYRIZA) government of Greece during a discussion on how a Grexit would impact the EU with CNN host Fareed Zakaria.

The Bulgarian women's national volleyball team achieved a victory in the opening round of Group 2's Pool M of the FIVB World Grand Prix.

Bulgaria defeated Croatia 3-2 (25-18, 23-25, 21-25, 25-22, 15-12) on Friday and at present occupies the first place in Pool M.

The sun is bright and the beaches are great but there's trouble in paradise: Puerto Rico is drowning in debt and its people are feeling the sting of economic crisis.

“Take Greece and give us Puerto Rico”, German FinMin Wolfgang Schauble reportedly joked, when talking with US Treasury Secretary Jack Lew.

The usually frosty Schauble’s jest was obviously linked to the recent default of Puerto Rico, a long-time US territory. Essentially, he was saying the Eurozone would “cover” Puerto Rico, with “Uncle Sam” taking Greece into the “dollar zone”.

Crushed by liabilities it now cannot repay, Puerto Rico is seeking to reschedule its $73 billion debt, the US commonwealth's governor said June 29.

Romanian tennis player Monica Niculescu defeated Belarusian Olga Govortsova, 2-6, 7-5, 7-5, on Wednesday, and qualified for the quarterfinals of the WTA tournament on grass from Nottingham (UK), equipped with total prizes worth 226,750 US dollars.

BELGRADE - Serbia's Jelena Jankovic and Taipei's Chan Hao-ching have reached the second round of the doubles tournament in Miami after they notched up a win against Spanish Arantxa Parra Santonja / Sílvia Soler-Espinosa 7-5, 6-4.