Puerto Rico's Debt Issues

[Dashinka 23,190]

Puerto Rico has nearly 72 billion in debt obligations and is hiring some key advisors from the Detroit bankruptcy deal.

http://www.detroitnews.com/story/news/local/detroit-city/2015/06/29/ex-bankruptcy-judge-rhodes-hired-advise-puerto-rico/29468203/

[Mr. Big Dog 10,747]

Maybe they should try a crowdfunding campaign like the one currently running for Greece?

https://www.indiegogo.com/projects/greek-bailout-fund#/story

Based on the Greece campaign, doesn't seem to be too promising, though.

BTW, that 1.6BN goal wouldn't "sort Greece". It would make the single payment due to the IMF today and nothing else. Another payment twice that size is due very soon, too.

€45,003

raised by 2,966 people in 1 day

0%

7 days left

€1,600,000,000 goal

Fixed Funding

Let's just get Greece sorted

All this dithering over Greece is getting boring. European ministers flexing their muscles and posturing over whether they can help the Greek people of not. Why don't we the people just sort it instead?

The European Union is home to 503 million people, if we all just chip in a few Euro then we can get Greece sorted and hopefully get them back on track soon. Easy.

What We Need & What You Get

€1.6bn is what the Greeks need. It might seem like a lot but it's only just over €3 from each European. That's about the same as half a pint in London. Or everyone in the EU just having a Feta and Olive salad for lunch.

So come on, order a Feta and Olive salad, maybe wash it down with an Ouzo or glass of Assyrtiko greek wine and let's sort this ###### out.

Pledge €3 and get a postcard sent from Greece of Alex Tsipras, the Greek Prime Minister. We'll get them made and posted in Greece and give a boost to some local printers and post offices.

Pledge €6 and get a greek Feta and Olive salad

Pledge €10 and get a small bottle of Ouzo sent to you

Pledge €25 and get a bottle of Greek wine

Is that really all it would take?

OK, it might be a short while for the cash to get fully into the Greek economy, but hell - what is there to lose? Another Tesco Meal deal? Ah well.

You get some tasty Greek things.

We promise that all profits will go to the Greek people and all products will be 100% Greek.

FAQs and Press/Media

Since this has been covered in the media and gone fantastically well so far, I've been asked a lot of questions. I've tried to answer some more below:

Who are you?

I'm 29 years old and from York, Yorkshire in the North of England but live in Bethnal Green, London. I currently work in a shoe shop in London.

Is this a joke?

No. I can understand why people might take it as a joke, but Crowdfunding can really help because it's just a case of getting on and doing it. I was fed up of the Greek crisis going round in circles, while politicians are dithering, this is affecting real people. While all the posturing is going on, then it's easy for the politicians to forget that. I just thought, sod it, I'll have a crack.

Edited June 30, 2015 by Mr. Big Dog

[Dashinka 23,190]

Yes, Greece is in a very sad state, and could possibly cause lasting effects in the EU. Living in the Detroit area, the recent bankruptcy was very big news, but I cannot imagine an entity the size of a state/province, or country going under. Currently, Puerto Rico cannot legally file for protection under Chapter 9 like Detroit, but they are asking congress to write a law to allow for it. Also, the White House has said they will not bail out PR, so we will see how things go.

With Greece, I think the upcoming referendum will fail (no votes will prevail) and it will exit the euro and start up a highly devalued drachma. I keep hearing Russia may try to gain them as a Western ally. The future will definitely be interesting.