STOCK MARKET WATCH -- Friday, 11 April 2014

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13. AILING PUERTO RICO OPEN TO RADICAL ECONOMIC FIXES

http://hosted.ap.org/dynamic/stories/C/CB_PUERTO_RICO_RADICAL_FIXES?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-04-11-00-04-19

SAN JUAN, Puerto Rico (AP) -- Slash the number of public holidays by two-thirds. Eliminate dozens of government agencies. Legalize marijuana and prostitution.

From the intriguing to the impossible, there is no shortage of ideas for fixing Puerto Rico's ailing economy as the government tries to dig out from a whopping $70 billion in public debt and bring back economic growth.

The ideas have come from legislators, entrepreneurs and even members of the public, who have submitted ideas via a government-sponsored website. Of the 369 ideas sent in by the public, 156 have been accepted by a government committee for consideration, including the suggestions to legalize marijuana and prostitution, and to limit how long people can live in subsidized housing.

But all the ideas require further government approval, either with a legislative vote, or an administrative nod from the governor, agency or department. More dramatic ideas, such as legalization of marijuana or prostitution, would require public hearings, legislative approval and the governor's signature.