“The people of Puerto Rico need to know that they’re not forgotten, they’re part of the American family,” Obama said before signing the bill into law in the Oval Office.
It has brought enormous hardship to Puerto Rico.”PROMESA, the Puerto Rico Oversight, Management and Economic Stability Act, will task a fiscal control board with significant powers over the administration of the island.
It may require Puerto Rico to cut government jobs, sell bonds or repeal minimum wage laws if the island fails to comply with PROMESA terms.
Puerto Rico began to default on its debts in August 2015.
And now it has lost many of the fiscal benefits that made it attractive to foreign investors.
Fuente: http://elpais.com/elpais/2016/07/01/inenglish/1467380284_981521.html
