Puerto Rico Debt Law Struck Down by Supreme Court

The video discusses Puerto Rico's financial crisis, focusing on its inability to use federal bankruptcy laws due to a Supreme Court ruling. The arguments of justices, including Justice Sotomayor, are explored, highlighting the legislative progress in Congress. The video also covers Puerto Rico's $70 billion debt and the upcoming $2 billion payment due on July 1st. The role of the Control Board in potentially enforcing a restructuring agreement is also examined.

What potential consequences could arise if Puerto Rico defaults on its $2 billion payment due on July 1?

How does the Control Board plan to address the situation if a restructuring agreement cannot be reached with creditors?