April 6, 2016

Puerto Rico suspends debt payments

Democracy Now - The Puerto Rican Senate and the House of Representatives have both passed an emergency declaration authorizing the governor to suspend payments on $72 billion in public debt—setting up a dramatic showdown between Puerto Rico and hedge funds amid the island’s historic debt crisis. The bill authorizes the Puerto Rican governor to "protect the health, security and public welfare ... [by] using government funds first and foremost for public services."

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