Rafael Bernabe, candidate for Governor of Puerto Rico for
the Partido del Pueblo Trabajador (PPT) 2012; professor and
director of the Federico de Onís Hispanic Studies Center at
the University of Puerto Rico at Río Piedras; economist; and
who has published three books including “Puerto Rico: Crisis y Alternativas”
Just in time to celebrate the Declaration of Independence by the 13 colonies which came together to form the USA,, Congress passed and Pres Obama signed The Puerto Rico Oversight, Management, and Economic Stability Act, or PROMESA, which established an independent control board or Junta de Control Fiscal, as it is locally known. It will be responsible for managing Puerto Rico’s spending and debt recovery with sweeping powers to run Puerto Rico’s economy. It also imposes a retroactive stay on litigation from the territory’s creditors against Puerto Rico’s government and includes a provision that could lower Puerto Rico’s minimum wage for workers 25 and younger below the current federal minimum of
to fix the broken economy which led to the debt in the first place. In Puerto Rico, students, union members, politicians and environmentalists have launched a series of protests against the bill, including marches and a protest camp outside the U.S. Federal Court in Hato Rey, Puerto Rico.
Bernie Sanders speech against "colonial" Puerto Rico bill PROMESA