Economist: Puerto Rico could fall into deeper depression

San Juan, Puerto Rico • Nobel economics laureate Joseph Stiglitz criticized Puerto Rico’s new fiscal plan on Thursday, saying that its “draconian” austerity measures are the worst he has ever seen and could plunge the U.S. territory into an even deeper depression. The former chief economist and senior vice president of the World Bank spoke to a gathering of more than 1,000 people in San Juan. Stiglitz said the 10-year fiscal plan approved last month by a federal control board created by U.S. Con...

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