Foreign Affairs
Related: About this forumPuerto Rico considers simple solution to debt crisis: Don’t pay
While Puerto Rican leaders look for ways to address the islands $72 billion debt, some say the solution may be simple: Dont pay it.
A small group of Puerto Rican lawmakers is pushing the idea that significant portions of Puerto Ricos debt may in fact be unconstitutional.
Manuel Natal, one of the legislators behind the effort, claims that up to 75 percent of what the island owes could be voided in court.
If debt was issued in violation of the constitution that debt is illegal and subsequently should not be paid, said Natal. It should be put aside, because in legal terms, its like it never happened.
http://america.aljazeera.com/watch/shows/fault-lines/articles/2015/10/24/puerto-rico-considers-simple-solution-to-debt-crisis-dont-pay.html
TexasTowelie
(111,288 posts)of the bankers blowing a gasket!
Turbineguy
(37,206 posts)will snap these obligations up and make them pay.
bemildred
(90,061 posts)The problem for them is that the Puerto Rican Constitution says it cannot pay what the funds have been getting already. So somebody finally noticed the problem. The vulture funds may have to give the money back. That would be so appropriate.
LuvNewcastle
(16,820 posts)I hope the fuckers don't get a dime.