An unlikely economic event - the probability of two sovereign defaults in a week - sparked a flurry of reaction in the Twittersphere on Monday.
Puerto Rico burst onto the global debt default scene in style, with an article in the New York Times. The U.S. commonwealth's governor Alejandro García Padilla told the newspaper that the Puerto Rico would go bust if it did not repay a $72 billion debt.
"The debt is not payable. There is no other option. I would love to have an easier option. This is not politics, this is math."
Taking a tack also adopted, unsuccessfully, by Greek Prime Minister Alexis Tsipras, Padilla added that creditors must re-consider their demands and be willing to negotiate on restructuring: "If they don't come to the table, it will be bad for them...What will happen is that our economy will get into a worse situation and we'll have less money to pay them. They will be shooting themselves in the foot."
Padilla's admission was the latest event to sour market sentiment following a dramatic weekend in Athens that some experts said could be the biggest flash point for markets since Mario Draghi's famous 'whatever it takes' statement in 2012.
While the mood on Twitter ranged from irony to solemn, the sheer magnitude of recent events was undoubtedly clear.
#PuertoRico just announced they can't pay their debts. I guess they're like, "Hey, if it's good enough for Greece, it's good enough for us."
With Greek and Puerto Rican debt down the toilet on the same day, this does not seem like an opportune time for #Fed to raise rates. #QE4
First #Greece, and now #PuertoRico. The sovereign debt disavowal has just begun. Extend and pretend is slowly giving way to CAN'T and WON'T.
Apple would be doing more for shareholder value by throwing $30 billion at Greece instead of its own buyback this week.
Meanwhile, a Twitter post from Greek Prime Minister Alexis Tsipras quoting Franklin D. Roosevelt's famous line ["The only thing to fear is fear itself] also made waves.