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1 | Puerto Rico: The New Greece? | Puerto Rico: Gresy Vaovao Ve? |
2 | The financial analyst Cate Long(@cate_long), a columnist and guest blogger for the news agency Reuters, made some observations about the Puerto Rican economy that were not very reassuring. | [Amin'ny teny Espaniôla daholo ny rohy raha tsy misy fanamarihana manokana] Ilay manam-pahaizana mpandalina ny ara-bola, Cate Long(@cate_long), mpitondra fanadihadiana sady bilaogera vahinin'ny masoivohom-baovao Reuters, dia nitondra fanamarihana vitsivitsy mikasika ny toekarena ao Puerto Rico hoe tsy dia azo antoka loatra. |
3 | In her blog MuniLand, she published an article, in which she stresses the similarities between Puerto Rico's and Greece's economies: | Ao amin'ny bilaoginy MuniLand, izy dia namoaka lahatsoratra iray ka ao anatin'izay no anipihany ny fitoviana misy eo amin'ny toekaren'i Puerto Rico sy Gresy |
4 | Puerto Rico could be described as America's own Third World country. | i Puerto Rico dia azo tondroina ho ny firenena Andalam-pandrosoan'i Amerika. |
5 | It has a per capita income of $15,203 - that's less than half the level of the poorest state, Mississippi, where it's $31,046 - and the official unemployment rate is 15.5 percent. | Manana fidiram-bola isam-batan'olona $15,203 - latsaka noho ny fetra ho an'ny firenena faran'izay mahantra indrindra, Mississipi, izay manana $31,046 - ary ny taha ofisialin'ny tsy fananana asa dia 15.5 isan-jato. |
6 | Forty-five percent of Puerto Ricans live below the poverty line, and 20 percent of personal income in the commonwealth comes from federal or Puerto Rican public funds. | Dimy amby efapolo isan-jato amin'ny olona ao Puerto Rico no miaina ambanin'ny tsipiky ny fahantrana, ary 20 isan-jaton'ny vola miditra amin'ny tsirairay ao amin'ny firenena no avy amin'ny fanjakana federaly na ny volam-bahoaka ao Puerto Rico. |
7 | In short, it's an economy going nowhere. | Raha fintinina, toekarena tampin-dàlan-kaleha no misy ao |
8 | But it's Puerto Rico's massive debt load that makes it resemble another crisis-stricken country that's been in the news lately: Greece. | Saingy ny fitambaran'ny trosa rehetra mitambesatra amin'i Puerto Rico no mahatonga azy hitovy amin'ireo firenena misedra olana izay nalaza teny anaty fampahalalam-baovao tsy ela akory izay: Gresy. |
9 | What motivated her to write the article was the recent issuance of municipal bonds by the Puerto Rico government, which has been remarkably successful for Long, since, according to her, in the future Puerto Rico could become insolvent due to its economy not growing fast enough to ensure compliance with its long term public debt payments. | Izay nanosika azy hanoratra ity lahatsoratra ity dia ny famoahana vao haingana teo ireo taratasin-trosan'ny kaominina nataon'ny governemanta ao Puerto Rico, izay nahita fahombiazana miavaka tokoa ho an'i Long, satria, araka ny ambarany, amin'ny hoavy i Puerto Rico dia tsy ho afaka hindram-bola intsony noho ny toekareny tsy mivoatra haingana mba hiantohana ny famerenana ny trosam-panjakana mandritra ny fotoana maharitra. |
10 | The analyst Sergio Marxuach from the Center for the New Economy agrees: | Ilay mpandalina, Sergio Marxuach, avy amin'ny Center for the New Economy (Foibe ho an'ny Toekarena Vaovao) dia miaiky hoe: |
11 | At a more fundamental level, neither country has control of monetary policy, so neither can devalue its currency to jumpstart the economy; neither has a strong productive base it can bootstrap to ignite growth; and perhaps more important of all, both economies are economic mirages based on consumption that has been sustained by a monetary illusion, that is, by having access to a stronger currency than their fundamentals warrant. | Aminà sehatra faran'izay saropady kokoa, samy firenena tsy mahafehy ny politikan'ny vola, na ny fampihenàna ny sandam-bolany mba hakàn'ny toekaren-dry zareo bàhana hahafaha-mitsambikina; sady tsy manana fototra famokarana matanjaka mba hahafahany indray manainga ny fandrosoany; ary angamba ny tena zava-dehibe amin'ny rehetra, ireo toekarena roa ireo dia toekarena taratry ny fanjifàna izay tohantohanan'ny rafitra ara-bola tsy tena izy akory, izay no izy, amin'ny fidirana aminà vola matanjaka tsy mifandanja amin'ny antoka fototra ananany. |
12 | So, in my view, the fundamental similarities outweigh any superficial differences between both countries. | Araka izany, raha ny fijeriko, ny fitoviana fototra no mibahana noho ireo sarintsarim-pahasamihafàna eo amin'ny firenena roa tonta. |
13 | This information is not new for economists. | Tsy zava-baovao ho an'ireo mpahay toekarena io. |
14 | Nonetheless, Long's article prompted strong reactions on the Internet. | Na izany aza, ny lahatsoratr'i Long dia niteraka fanehoan-kevitra mahery vaika tety anaty aterineto. |
15 | The website Alerta Progresista [es] (Progressive Alert), one of the official pages of the New Progressive Party's campaign, the party headed by current governor Luis Fortuño, accused Cate Long of being an Occupy Wall Street activist, of not being a true financial analyst, and of being ordered to write the article as part of an agenda against governor Fortuño's administration. | Ilay tranonkala Alerta Progresista [es], iray amin'ireo pejy ofisialin'ny fampielezan-kevitry ny New Progressive Party, ilay antoko tarihan'i governora ankehitriny, Luis Fortuño, dia niampanga an'i Cate Long ho isan'ny mafàna fo amin'ny Occupy Wall Street, sy tsy tena manampahaizana mpandalina ny ara-bola, ary nokaramaina hanoratra lahatsoratra ho toy ny fandaharanasa entina hamelezana ny fitantanan'ny governora Fortuño. |
16 | However, several people came to Long's defense on Twitter. | Kanefa, betsaka ny olona tonga mba hiaro an'i Long tao amin'ny Twitter. |
17 | The blog Latino Rebels created a Storify story that sums up well the discussion on the social networks. | Ny bilaogy Latino Rebels dia namorona tantara iray ao amin'ny Storify izay mamintina tsara mihitsy ny fifanakalozan-dresaka tety anivon'ny tambajotra sosialy |
18 | Long was surprised by all the controversy her article created and the strong negative reactions she received from the Fortuño administration. | Gaga i Long tamin'ny fifanoheran-kevitra rehetra nateraky ny lahatsoratra nosoratany ary ireo fanehoan-kevitra manohitra mafy voarainy avy tamin'ny fitantanan'i Fortuño. |
19 | Be that as it may, she realized that those who paid the most attention to her article were people who were not involved with the bond market: | Na izany na tsy izany, tsapany fa ireo izay tena nifantoka tsara tamin'izay nosoratany dia ireo olona tsy voasaringotra amin'ilay resaka tsenan'ny trosa: |
20 | But it turned out the attention my piece was getting was from people outside the bond market. | Nefa hita izao fa ny fifantohan-tsaina azo tamin'ilay lahatsoratro dia avy amin'ireo olona any ivelan'ny tsenan'ny trosa. |
21 | Those who were responding to it were those who love Puerto Rico and are concerned about its future, namely its citizens. | Ireo izay namaly azy io dia ireo izay tia an'i Puerto Rico ary velom-panahiana mikasika ny hoaviny, indrindra fa ny vahoakany. |
22 | They seized on what I wrote and passed it around on Facebook. | Noraisin-dry zareo izay nosoratako ary naparitany tao amin'ny Facebook. |
23 | Newspapers like elnuevodia.com [es] and blogs [es] picked it up and debated the fine points of the island's unemployment rate and deficit spending. | Ireo gazety toy ny elnuevodia.com [es] sy bilaogy [es] dia samy nitsaingoka azy io sy niady hevitra tamin'ireo teboka saropady momba ny tahan'ny tsy fananana asa eto amin'ny nosy ary ny fitotongan'ny toekarena. |
24 | I've never seen anything like it in the United States. | Tsy mbola nahita zavatra toy izao aho tany Etazonia. |
25 | A week later Long published an open letter to the Puerto Rican Governor in which she reaffirmed her original statements and expressed her displeasure with respect to the personal attacks she has received. | Herinandro taty aoriana i Long dia namoaka taratasy misokatra iray ho an'ilay Governora ao Puerto Rico ka ao anatin'izany no nanamafisany ny fanambarany tery aloha sy nanehoany am-panajàna ny tsy hafaliany noho ireo fanenjehana azy manokana voarainy. |
26 | However, she did admit that she committed an error in her first article: | Na izany aza, nekeny kosa ny filazana fa nanao hadisoana izy tao anatin'ilay lahatsorany voalohany: |
27 | … I made one mistake in that piece, which I did not discover until I read the rating agencies' reports about the commonwealth. | … Hadisoana iray no nataoko tao anatin'izy iny, izay tsy tsikaritro raha tsy efa namaky ny tatitry ny masoivohom-baovao nandahatra ireo firenena mpiara-dia aho. |
28 | Your constitution requires that bond principal and interest be repaid before your government can make any other expenditures. | Takian'ny lalam-panorenanareo ny tsy maintsy andoavana aloha ny renin-trosa sy ny zanany alohan'ny hahafahan'ny governemantanareo manao fandaniam-bola mihoam-pampana hafa indray. |
29 | That means bond repayments take precedence over payments for education, healthcare, government-worker wages and pensions. | Midika izany fa ny fanefàna ireo trosa dia laharam-pahamehana noho izay fandaniana ho an'ny fanabeazana, fiahiana ara-pahasalamana, fandoavana ny karaman'ireo mpiasa ao amin'ny governemanta sy ny fisotroan-dronono. |
30 | Bond markets cheer for this, of course, but I'm not sure that your citizens are entirely aware of it. | Ny tsenan'ny trosa no faly amin'izany, mazava loatra, saingy tsy azoko antoka hoe ny vahoakanareo dia tena mahatsapa izany tokoa |