Tag Archives: privatization

Puerto Rico Can Avoid Greek Tragedy with Tough Reforms

Last Friday, Greece’s legislature passed a raft of reforms to placate European lenders as the country faces a debt crisis with broad international implications. The deal contains many real, painful cuts for Greeks, but certainly ones that are necessary if the country is ever to regain its fiscal footing.

As this unfolds, another fiscal crisis of a small jurisdiction within a currency union also plays out: the pending default of the US territory of Puerto Rico. My last column addressed the federally imposed problems facing the island, but many of the territory’s issues were certainly brought on by poor government choices in the past that have yielded fiscal ruin today.

With such clear parallels between the two jurisdictions, the reforms passed in Greece are a reasonable guide for what could be done to remedy Puerto Rico’s economic woes.

Read the rest on the PanAm Post here.

Advocate Matthew’s Letter-to-the-Editor on Obama’s Transportation Plan Published by Newsday

Advocate Matthew La Corte was published by Newsday about President’s Obama proposed transportation plan and private infrastructure.

President Barack Obama spoke in Westchester County, calling on Congress to pass a four-year, $302-billion transportation bill [“A road trip for road bill,” News, May 15]. The White House has touted this plan as a vision for 21st century infrastructure, so that we remain a global superpower. Unfortunately, the bill does the very opposite by bucking the 30-year global trend of privatizing infrastructure.

The Economist noted that 11 of the 20 largest initial public offerings between 2005 and 2013 were sales of minority stakes by state-owned enterprises. Revenue for privatized airports represented 45 percent of total revenue for the 100 largest airports in the world.

Obama’s plan simply offers another stale attempt to use federal politics while rejecting international trends.

Read the rest of the piece here.

If you’d like to speak with or book Matthew or any of our other Advocates, please contact Young Voices now.