Puerto Rico Eyes Options As It Faces Debt Deadline — Again

People carry a large Puerto Rican flag as they protest looming austerity measures amid an economic crisis in San Juan, Puerto Rico on Monday. The May Day demonstrations come as the island faces a Monday deadline for reaching a deal on debt payments, or entering bankruptcy-like proceedings.

The island has been struggling with a massive debt burden for nearly two years, and protection from lawsuits are about to expire. An oversight board could initiate a bankruptcy-like process.

(Image credit: Danica Coto/AP)