A non-partisan journal of the left.

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How to Wipe Out Puerto Rico's Debt Without Hurting Bondholders

During his visit to hurricane-stricken Puerto Rico, President Donald Trump shocked the bond market when he told Geraldo Rivera of Fox News that he was going to wipe out the island’s bond debt.... [read more]

The Italian Banking Crisis: No Free Lunch—or Is There?

It has been called “a bigger risk than Brexit”– the Italian banking crisis that could take down the eurozone... [read more]