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Irish Left Review
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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Spirit of Contradiction

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

offsite link Fake News: The Epistemology of Media Wed Jun 07, 2017 11:52 | Gavin Mendel-Gleason

offsite link Officials and Provisionals Sat Apr 01, 2017 22:54 | James O'Brien

offsite link Interview with Cathal Goulding Mon Dec 26, 2016 17:11 | Cathal Goulding

offsite link Trump, Russia and the CIA Sat Dec 10, 2016 18:23 | Gavin Mendel-Gleason

Spirit of Contradiction >>

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

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

offsite link THE WRATH OF KANE: BANKING CRISES AND POLITICAL POWER 09:32 Fri Jan 30, 2015

offsite link ALWAYS THE ARTISTS: WEEK THREE OF THE BANK INQUIRY 23:11 Thu Jan 22, 2015

Dublin Opinion >>

NAMA Wine Lake

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

offsite link Gayle Killilea Dunne asks to be added as notice party in Sean Dunne?s bankruptcy Fri May 17, 2013 12:30 | namawinelake

NAMA Wine Lake >>

Puerto Rico House Approves Public Utility Reform Bill

category international | economics and finance | news report author Tuesday February 16, 2016 20:03author by Greg Report this post to the editors

Legislation Part of Proposed Debt Deal

Puerto Rico's House of Representatives approved legislation to reform its highly indebted public utility company "PREPA."

The utility company's investors want the reform package before they approve a debt restructuring deal that includes a 15 percent cut in repayments. The bill passed the island's Senate but was amended in the House so will now head back to the Senate for another vote. Puerto Rico is likely to get an extension from lenders on a midnight February 16 deadline to pass the legislation.

"While the deal does offer some relief, it's hardly a model to deal with the island's debt," stated Eric LeCompte, executive director of the religious development coalition Jubilee USA. "If we saw a broader deal along these lines it would fail to bring Puerto Rico's debt back to sustainable levels."

PREPA's $8 billion debt is part of the portion of Puerto Rico's debt impacted by the island's exclusion from Chapter 9 of the US bankruptcy code. Both Republicans and Democrats in Congress have introduced legislation to extend Chapter 9 to Puerto Rico. The US House of Representatives' Natural Resources Committee is drafting legislation to address Puerto Rico's debt crisis and will hold its third hearing on the issue February 25.

"It's clear we are now in a critical stage of this crisis," noted LeCompte, who testified at the Natural Resources Committee's February 2 hearing. "Congress can't stand on the sidelines any longer."

Jubilee USA Network is an alliance of more than 75 US organizations and 550 faith communities working with 50 Jubilee global partners. Jubilee's mission is to build an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

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