Puerto Rico Debt Crisis: Prepare For Bankruptcy & Austerity

Puerto Rico – citizens call for independent audit!

Tempers are flaring in Puerto Rico as the puppet governor (Ricardo Rosselló) is seeking protection with bankruptcy and austerity.
Recently, a peaceful protest (largely students) broke into violence and arrests when (allegedly) undercover provocateurs caused the riot police to pepper-spray protestors.
Later the governor has been on TV in support of policia enforcing policy and austerity policies.

Title: Puerto Rico Debt Crisis
Video posted 21 Apr 2017 by Fusion

Exclusive: Puerto Rico government pushing forbearance deal in creditor talks – sources

Fri Apr 21, 2017 | 4:05pm EDT | By Nick Brown

Lawyers for Puerto Rico’s government are drafting a forbearance agreement that could allow the U.S. territory to avoid invoking bankruptcy protections in the short-term, two sources with direct knowledge of the discussions revealed to Reuters on Friday.

Puerto Rico and its creditors wrapped up roughly a week’s worth of mediated talks in New York, aimed at striking a deal to restructure much of the $70 billion in debt the island cannot pay.

It remains unclear if creditors would support such an offer to extend talks past a May 1 deadline to reach an agreement. After that date, Puerto Rico could face lawsuits from creditors or seek a court-sanctioned restructuring process akin to U.S. bankruptcy, a provision of the 2016 rescue law known as PROMESA.

One of the sources said a government attorney with O’Melveny & Myers informed some creditors the government’s legal team would circulate a draft forbearance agreement, and would be in touch in the coming week about scheduling new mediation talks.

The sources requested anonymity because talks are private.

Puerto Rico’s financial team is due back on the island next week as its prepares a budget for the federal financial oversight board that is due by April 30, [2017].
Source: Reuters

Puerto Ricans Hold a ‘Vigil for Light and Truth’ to Demand an Audit of Public Debt

Friends of Pontiac Tribune | April 23, 2017

Puerto Rico’s economic and fiscal crisis requires a broad restructuring of Puerto Rico’s fiscal infrastructure. An effort imposed from the outside without the participation and conviction of Puerto Rican residents runs the risk of being rejected by the country’s citizens.

Read More.



Want Worldwide PEACE and Prosperity. We are the solution we have been searching for... Free People on Earth will solve our crisis and create an era of Creativity. Be Aware; Be Creative; Be Active; Be Free; and then Share it. LOVE & Wholeness AMOR y Paz

Tagged with: , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Posted in Freedom-Expressed
One comment on “Puerto Rico Debt Crisis: Prepare For Bankruptcy & Austerity

Please Contribute a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 395 other subscribers
The Worldwide Awakening
Peaceful Awareness & Knowledge Based TransitionSeptember 11, 2017
Exercise freedom and creativity for all Earth’s inhabitants to explore ready breakthroughs in Self Organizing Communities, economics, and technology. This is a D.I.Y. project
State Sponsored Terror
The Big Day ReportMarch 30, 2018
Institutions of crime Big days have come, gone, and come again (Manipulations: Market Exchanges crash, wars, government Elections, and Taxation). Search for what is hidden and for what is not spoken. What secrets are hidden in Antarctica? Be Aware of the next big Day for fraudulent institutions.
Peace Today

Peace Today

RonMamita’s Blog
April 2017
All posts here
Audio coming soon!
%d bloggers like this: