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Puerto Rican debt holders respond to catastrophic hurricane by offering Puerto Rico more debt

Puerto Rico, facing absolute devastation after Hurricane Maria barreled through last week, desperately needs immediate funding to restore critical infrastructure, particularly its hobbled electric grid. The entire island — home to over 3.5 million American citizens, roughly equivalent to the state of Connecticut — lost power, and satellite imagery shows how little electricity has come back. This affects not only electricity and telecommunications service but access to clean water, as many pumping stations run on the same grid. A group of bondholders, who own a portion of Puerto Rico’s massive $72 billion debt, has proposed what they are calling relief — but in the form of a loan. So they’re offering a territory mired in debt the chance to take on more debt. The announcement came after The Intercept spent two days reaching out to 51 of Puerto Rico’s known creditors, asking them if they would support a moratorium or cancellation of debt payments for the island,

Greece could leave the EU: why the Grexit option deserves consideration

With the Greek psyche itself the victim of a relentless shaming campaign, the idea of Greece “going it alone” begins to seem outlandish and quixotic. It is not. But it is as much tied to a revival of spirit and self-esteem as to the nuts and bolts of economic transformation. by Michael Nevradakis Part 4 - Varoufakis: more blatant lies and pro-EU propaganda When concealing inconvenient public opinion survey results isn’t enough, more blatant lies are employed. A characteristic example comes from the statements made by former finance minister and “heroic” celebrity economist Yanis Varoufakis, who in an interview with ABC Radio in Australia in 2015 stated that even if Greece wanted to return to a domestic currency, its printing presses were destroyed in 2000 prior to joining the eurozone. In reality, Greece’s mint is still in operation in the Athens suburb of Holargos and prints euro banknotes today. In the minds of many Greeks, the old drachma is also associated

Η Αριστερά και η Βενεζουέλα

του Κλάουντιο Κατς Μέρος 8ο - Ψευτοεκλογές Στο άμεσο μέλλον, δύο είναι οι πιθανές πολιτικές επιλογές: η Δεξιά απαιτεί να διεξαχθούν γενικές εκλογές και η κυβέρνηση έχει προκηρύξει εκλογές για Συντακτική Συνέλευση [το άρθρο είναι γραμμένο πριν από τις εκλογές για τη Συντακτική Συνέλευση οι οποίες διεξήχθησαν ομαλά -- η αντιπολίτευση δεν συμμετείχε και κατέφυγε σε ένα άτυπο δημοψήφισμα μια εβδομάδα πριν, χωρίς σοβαρά πολιτικά αποτελέσματα και με πλήθος καταγγελιών για νοθεία, βλ. http://prensa-rebelde.blogspot.gr/2017/07/blog-post_6.html σ.τ.μ.]. Η αντιπολίτευση θέλει να συμμετάσχει σε εκλογές το αποτέλεσμα των οποίων θα το έχει εξασφαλίσει εκ των προτέρων. Από τις 19 εκλογικές αναμετρήσεις που έγιναν υπό τις μπολιβαριανές κυβερνήσεις, τις 17 τις κέρδισε το κίνημα του τσαβισμού, ενώ αμέσως αναγνώρισε τις δύο τις οποίες έχασε. Αντιθέτως, η Δεξιά ουδέποτε αποδέχθηκε τα δυσμενή γι’ αυτήν εκλογικά αποτελέσματα. Πάντα ισχυριζόταν ότι έγινε νοθεία κάποιου είδους ή κατέφ

Jeremy Corbyn to end Thatcherian failed model

The Labour leader is expected to say the existing system has delivered a ‘brutal and less caring’ society Jeremy Corbyn will use his flagship conference speech to promise a “new common sense” model for British life that will overturn 30 years of liberal free market economics. The leader will set out policies to pull up the foundations of the existing model, in place since Margaret Thatcher reshaped Britain in the 1980s and adhered to by Labour until Mr Corbyn came to office. In particular, he will point to the Grenfell Tower disaster as a “tragic monument” to a model of government that has become “brutal and less caring” over the last three decades. In its place, he will propose a new system with an empowered state, nationalised utilities, billions in extra funding for health and education services, curbs on corporate excess and tax rises for the wealthiest. Mr Corbyn will then claim Labour is “ready for government” today and will demand Ther

Police to take over polling stations in Catalonia to thwart independence ballot

The Spanish government said on Tuesday regional police will take control of any voting booths before a Catalan referendum on independence this weekend which it deems illegal. For its part the Catalan regional government said the vote will go ahead and it sent out notifications to Catalans to man polling booths. The row has plunged the country into one its biggest political crises since the restoration of democracy four decades ago. “ Today we can affirm that there will be no effective referendum in Catalonia. All the referendum’s logistics have been dismantled, ” the Spanish government’s representative in Catalonia, Enric Millo, said on Tuesday. https://www.rt.com/news/line/