Puerto Rico says it is being crushed by debt, low growth

Alejandro Garcia Padilla's admission in an interview with the New York Times rattled stock markets and quickly knocked 10 percent off prices of Puerto Rican bonds. "The debt is not payable," Garcia Padilla told the paper. On Monday the government released a study by ex-officials of the International Monetary Fund and the World Bank that says Puerto Rico's debt load is unsustainable and needs to be rescheduled.