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Joined up thinking for the Irish Left

offsite link New Books Worth Reading Mon Sep 19, 2016 23:25 | Seán Sheehan

offsite link 13 Billion ? Lucky for some? Mon Sep 05, 2016 13:04 | Tony Phillips

offsite link Rebuilding Ireland: Long on Promise, Short on Detail Mon Aug 29, 2016 22:20 | Eoin O'Mahony

offsite link Brexit and Other Issues: Comments on the Current Situation Mon Aug 29, 2016 21:52 | Brendan Young

offsite link Bin Charges: From Private Circus to Public Service Tue Jun 21, 2016 12:38 | Michael Taft

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Cedar Lounge
For lefties too stubborn to quit

offsite link And a new poll! With Aontú included. Kind of. 18:19 Sat Feb 23, 2019 | WorldbyStorm

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offsite link Paul Flynn 11:38 Fri Feb 22, 2019 | WorldbyStorm

offsite link Polling on the split? 09:40 Fri Feb 22, 2019 | WorldbyStorm

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Dublin Opinion
Life should be full of strangeness, like a rich painting

offsite link Some Thoughts on the Brexit Joint Report 11:50 Sat Dec 09, 2017

offsite link IRISH COMMONWEALTH: TRADE UNIONS AND CIVIL SOCIETY IN THE 21ST CENTURY 14:06 Sat Nov 18, 2017

offsite link Notes for a Book on Money and the Irish State - The Marshall Aid Program 15:10 Sat Apr 02, 2016

offsite link The Financial Crisis:What Have We Learnt? 19:58 Sat Aug 29, 2015

offsite link Money in 35,000 Words or Less 21:34 Sat Aug 22, 2015

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NAMA Wine Lake

offsite link Test ? 12 November 2018 Mon Nov 12, 2018 14:28 | namawinelake

offsite link Farewell from NWL Sun May 19, 2013 14:00 | namawinelake

offsite link Happy 70th Birthday, Michael Sun May 19, 2013 14:00 | namawinelake

offsite link Of the Week? Sat May 18, 2013 00:02 | namawinelake

offsite link Noonan denies IBRC legal fees loan approval to Paddy McKillen was in breach of E... Fri May 17, 2013 14:23 | namawinelake

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Senate Bill Offers Debt Relief for Puerto Rico

category international | economics and finance | press release author Wednesday July 25, 2018 18:56author by Lydia Andrews - Jubilee USA Network Report this post to the editors

New Senate legislation offers additional options for Puerto Rico to cut its debt. Senators Elizabeth Warren (D-MA), Bernie Sanders (I-VT), Kirsten Gillibrand (D-NY), Ed Markey (D-MA) and Kamala Harris (D-CA) introduced the US Territorial Relief Act. If Congress passes the act, US Territories that experience natural disasters could qualify for debt relief.

"Puerto Rico continues to struggle with the aftermath of Hurricanes Maria and Irma," noted Puerto Rico Archbishop Roberto González Nieves. "The hurricanes were made worse by debt crisis and austerity policies. Legislation such as this, can provide us more options for debt relief and greater transparency in the finances of our island."

The bill also creates an audit commission to study the causes of the debt. US Territories, like Puerto Rico, would qualify for relief if two of three criteria are met. The specific criteria refer to population decrease, receiving federal disaster aid and the total debt per person exceeds $15,000.

Both Puerto Rico and the US Virgin Islands likely meet the Senate Bill's eligibility requirements.

“Beyond debt relief, Puerto Rico and the US Virgin Islands still need Congress to authorize more disaster aid to rebuild to withstand the coming storms," stated Jubilee USA Executive Director Eric LeCompte. LeCompte serves on United Nation debt expert groups and works with Puerto Rico religious leaders on resolving the debt crisis. "Without seriously cutting Puerto Rico's debt there is little hope for reducing the high child poverty rate, let alone seeing sustainable economic growth."

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