David Galarza, co-founder of SiemPReste, an organization committed to working in the diaspora around the political/civil/economic crisis of Puerto Rico and Michael Kink, Exec. Dir., Strong Economy for All Coalition and Member Hedge Clippers
Puerto Rico s Debt Crisis: Who s To Blame And What Can Be Done? with . David Galarza, co-founder of SiemPReste, an organization committed to working in the diaspora around the political/civil/economic crisis of Puerto Rico . Michael Kink, Exec. Dir., Strong Economy for All Coalition and Member Hedge Clippers
Puerto Rico, an unincorporated territory of the United States with 3.5 million U.S. citizen residents who do not have the right to vote for President or representation in Congress-is making headlines these days because of its inability to pay a $72 billion debt owed to holders of its devalued bonds. While there have been comparisons between Greece and Puerto Rico the reality is that they are totally distinct situations. Greece has sovereignty, Puerto Rico does not. Puerto Rico is unable to declare bankruptcy, cannot devalue its currency and cannot go to international financial institutions under the present colonial system. In fact one of the solutions offered in the United States to solve the chaotic economic crisis is to place the entire island in receivership. In other words to go back to an even more rigid colonial system so that the bonds market can protect their investment. Building Bridges discusses how Washington helped create Puerto Rico s staggering debt crisis and its effect on millions of what are effectively second-class U.S. citizens and what is to be done!
produced by Mimi Rosenberg and Ken Nash
please notify us if you plan to broadcast this program - knash@igc.org
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