Puerto Rico Needs Debt Relief

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This is an opinion item.

Author(s) The New York Times editorial board
Source The New York Times
Date July 1, 2015
URL http://www.nytimes.com/2015/07/02/opinion/puerto-rico-needs-debt-relief.html
Quotes-start.png This plan can work only if Congress acts. Federal lawmakers have to allow the island’s public corporations, such as its electric utility and highway authority, to restructure their $25 billion in debt in bankruptcy court (as cities and government-owned businesses in the rest of the country can). A bill to change the bankruptcy law has been introduced in the House, but has not advanced because of opposition from some hedge funds. Quotes-end.png

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This item argues for the position Puerto Rico should be allowed to declare bankruptcy on the topic Puerto Rican government-debt crisis.