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Newfoundland sinking to new low as Canada’s most indebted province Add to ...

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Besides being islands, Puerto Rico and Newfoundland don’t have a lot in common. After all, one is a tropical paradise with an average year-round temperature of 28 C., while the other is known to report snow in June, a month sometimes referred to by locals as Juneuary.

Yet, Canada’s easternmost province and the U.S. territory in the Caribbean do share one distinction. Both are broke and deeply in hock. Puerto Rico is currently closer to the brink than Newfoundland and Labrador, as the island and its mainland possession are officially known. But the Rock is sitting on a far more explosive demographic time-bomb that will not be easily defused.

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