Obama signs rescue Puerto Rico before the default

Puerto Rico has been saved. The US president, Barack Obama, will sign a law that was passed by Congress and that will allow the restructuring of the debt of the American territory, which threatened to declare default in the coming days. A decision that opens the way for the restructuring of the debt of 72 billion dollars in bonds and the governor of Puerto Rico, Alejandro Garcia, had clearly stated that he could not honor the deadline of 1 July, amounting to $ 2 billion.

"I want to let the people of Puerto Rico know that although there's still some tough work that we're going to have to do to dig Puerto Rico out of the hole that it's in, this indicates how committed my administration is to making sure that they get the help they need, "the President said in brief remarks to reporters.

"The people of Puerto Rico that need to know they're not forgotten, they're part of the American family," Mr. Obama said. The bill won majorities within both parties in the House and in the Senate, and the White House strongly backed the bill.

The decision sent on a rampage international investors, especially hedge funds, which hold about 19 billion US dollars of the debt of Puerto Rico. The bonds have not suffered particular setbacks down as it is already known for a long time the crisis situation of Puerto Rico.