US Imposing Junta to Rule Puerto Rico - 28:46
written by building bridges radio
at Wednesday, July 27, 2016
US Imposing Junta to Rule Puerto Rico
with
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
with
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
$7.25. The bill was opposed by progressives including
Senator Bernie Sanders, who said “[W]e are taking away virtually all of the
political and democratic rights of the people of Puerto Rico. We are
treating them as an absolute colony.” While supporters of the legislation say
it will help the island cope with its debt crisis by allowing an orderly
restructuring of its $72 billion debt, critics say it is a reversion to
old-style colonialism that removes democratic control from the people of
Puerto Rico. They say that this colonial junta is nothing but a glorified
collection agency for the hedge funds and the vulture funds and will call
for further austerity in an economy reeling from a long term depression
rather than ways
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.
Plus
Bernie Sanders speech against "colonial" Puerto Rico bill PROMESA
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.
Plus
Bernie Sanders speech against "colonial" Puerto Rico bill PROMESA
Sen. Bernie Sanders harshly condemned what he called the
"colonial" Puerto Rico bill PROMESA on the Senate floor on
June 29
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