White House Says No Federal Bailout For Puerto Rico

By Robert SchroederMarketWatch Pulse

No one in the Obama administration is contemplating a federal bailout for Puerto Rico, a White House spokesman said Monday. The commonwealth's governor says Puerto Rico cannot pay its roughly $72 billion in debts. White House spokesman Josh Earnest told reporters the administration remains committed to working with Puerto Rico as the island addresses its challenges. Separately, Earnest said the U.S. exposure to Greece is "small." Greece won't make a debt repayment to the International Monetary Fund that is due Tuesday, a senior Greek official said.

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