Originally aired live on Huffington Post’s site here.
It’s official, Puerto Rico has defaulted on a major bond payment for only the second time in recent history and the world is struggling to find out why we should care, how it’s going to affect the people of Puerto Rico, and whether its fiscal crisis will ever end.
Host Alex Miranda speaks with a stellar line up: Aaron Kuriloff @kuriloff (New York, NY) Reporter, The Wall Street Journal; Dan Berger @munimarketmaven (New York , NY) Senior Market Strategist, Thomson Reuters; Jeffrey Dorfman @dorfmanjeffrey (Athens, GA) Economics Professor, The University of Georgia & Contributor, Forbes; and myself, Justin Velez-Hagan @JVelezHagan (Alexandria, VA), Founder & Executive Director for the National Puerto Rican Chamber of Commerce.
“After defaulting on more bond payments, Puerto Rico is facing multiple lawsuits as it falls deeper into debt. We look at whether the commonwealth will be able to bounce back from its financial crisis or suffer the same fate as Greece,” reads the description on HuffPost’s site.
The conversation began with how Puerto Rico defaulted and the implications for its economy, then turned to the impact on the municipal bond market and the effects that everyday Puerto Ricans have experienced and will continue to feel from increasing fiscal austerity measures, hits on how a shrinking population and tax base will hurt the economy, and finishes with panelists’ thoughts on the investment community, bankruptcy, U.S. federal assistance, and my own opinion on what will happen next.
See a shortened clip here: http://live.huffingtonpost.com/r/highlight/568c03795a743c564300180a
See the full interview here: http://live.huffingtonpost.com/r/segment/puerto-rico-debt-crisis/5681ce348795a249f6000987