The Commonwealth of Puerto Rico is bankrupt. In a few weeks their public funds will be gone.
Puerto Ricans debate between independence and the full integration in the United States, or to keep an status as exceptional as anachronistic.
Puerto Rico passed from the Spanish to the Americans. It has only been fully independent for 3 days, during the nationalist’s revolts in 1950.
The economic destiny of Puerto Rico is in hands of the Financial Oversight and Management Board, named by Washington, who has assumed part of the legislative and government’s competences. The recession in Puerto Rico is not new: it started a decade ago, when many companies arrived during the 70s, due to tax benefits, left, after in 2006 the United States ended those.
The future of the island depends, mostly, on how they negotiate it and for that they will need to know clearly what they want. They have to decide whether they prefer freedom as a sovereign nation or to abandon this idea and remain under the comfort of having an American passport.