New Events

International

no events posted in last week

Blog Feeds

Anti-Empire

Anti-Empire

offsite link US Marines Commandant Wants to Dump All ... Wed Mar 03, 2021 20:57 | Paul McLeary

offsite link Cuomo Wins Al-Qaeda’s ‘Jihadi of the... Wed Mar 03, 2021 15:15 | Rafi Metz

offsite link Facing MBS Questions Washington Suddenly... Wed Mar 03, 2021 14:38 | Dave DeCamp

offsite link Previously Unreleased Footage of Iranian... Wed Mar 03, 2021 13:27 | Colonel Cassad

offsite link Orban Gets a Sinopharm Jab, Slovakia Imp... Wed Mar 03, 2021 12:34 | bne IntelliNews

Anti-Empire >>

The Saker
A bird's eye view of the vineyard

offsite link The Bamiyan Buddhas: an Afghan tale Wed Mar 03, 2021 17:26 | amarynth
by Pepe Escobar with permission and first posted at Asia Times In the beginning, they were the Bamiyan Buddhas: the Western Buddha statue, 55 meters high, and the Eastern, 38

offsite link Sitrep: Eradicating absolute poverty in China Wed Mar 03, 2021 16:07 | amarynth
By Godfree Roberts ? selected from his extensive weekly newsletter : Here Comes China plus editorial notes. You can get it here:  https://www.herecomeschina.... The Biggest News Xi declares ‘complete victory’

offsite link Leaked: Smith College memo demands workers admit White privilege Wed Mar 03, 2021 01:04 | amarynth
by Ramin Mazaheri for the Saker Blog As a daily reporter, columnist and author it seems I have developed a reputation for unparalleled bravery in exposing truths which the 1%

offsite link Moveable Feast Cafe 2021/03/02 ? Open Thread Tue Mar 02, 2021 15:30 | Herb Swanson
2021/03/02 15:30:01Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link Bernays and Propaganda ? The Transition to Education and Commerce ? Part 4 Tue Mar 02, 2021 10:16 | amarynth
By Larry Romanoff for the Saker Blog The success of Lippman and Bernays did not go unnoticed in many segments of American society. Universities in particular realised the potential of

The Saker >>

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Mainstream media: Failing to speak truth to power

offsite link David Quinn’s selective tolerance Anthony

offsite link A Woulfe in judges clothing Anthony

offsite link Sarah McInerney and political impartiality Anthony

offsite link Did RTE journalists collude against Sinn Fein? Anthony

Public Inquiry >>

Spirit of Contradiction

offsite link The Party and the Ballot Box Sun Jul 14, 2019 22:24 | Gavin Mendel-Gleason

offsite link On The Decline and Fall of The American Empire and Socialism Sat Jan 26, 2019 01:52 | S. Duncan

offsite link What is Dogmatism and Why Does It Matter? Wed Mar 21, 2018 08:10 | Sylvia Smith

offsite link The Case of Comrade Dallas Mon Mar 19, 2018 19:44 | Sylvia Smith

offsite link Review: Do Religions Evolve? Mon Aug 14, 2017 19:54 | Dara McHugh

Spirit of Contradiction >>

Puerto Rico Bankruptcy Judge Reviews Debt Deal

category international | economics and finance | press release author Wednesday January 16, 2019 21:18author by Kate Zeller - Jubilee USA NetworkReport this post to the editors

Oversight Board Files for $6 Billion Debt Cancellation 

Through Thursday, the judge presiding over Puerto Rico's bankruptcy process will hear testimony about a debt deal to restructure about $17 billion of the island's $72 billion debt.

Through Thursday, the judge presiding over Puerto Rico's bankruptcy process will hear testimony about a debt deal to restructure about $17 billion of the island's $72 billion debt. The Honorable Judge Laura Taylor Swain is administering the island's Title III process, a debt restructuring process created by Congress in 2016. This week Swain is hearing testimony from stakeholders of the merits of a debt deal that Puerto Rico's COFINA creditors and oversight board agreed on. Critics of the plan argue that if the debt deal is approved, it sets up Puerto Rico for failure.

"The current agreement doesn't do enough to support sustained economic growth, reduce austerity or ensure that Puerto Rico rebuilds from last year's hurricanes," said Jubilee USA Executive Director Eric LeCompte who monitored the island's debt woes since 2015. "If this is the recipe to restructure Puerto Rico's debt, Puerto Rico will be back at the restructuring table in a few years."

This week Puerto Rico's oversight board filed a request to cancel debt to Judge Swain. $6 billion in General Obligation bond debt from 2012 and 2014 exceeded set Puerto Rico constitutional debt limits, according to the court filing.

"The move to cancel this debt is important. It should be declared null and void," stated LeCompte. "The debt violated debt limits and some hedge funds were looking to exploit this debt."

© 2001-2021 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy