Stiglitz explained that economies that undergo an extended depression, such as Puerto Rico’s, go into a deterioration spiral. (Xavier J. Araújo Berríos)
For the Nobel Prize winner in Economics, Joseph Stiglitz, the austerity measures about to be implemented in Puerto Rico, as part of the Fiscal Plan certified by the Oversight Board and embraced by governor Ricardo Rosselló Nevares, are more “draconian” that those established in Greece, a country that for two years has faced a fiscal and economic crisis that seems to have no end.

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