Puerto Rico board sets Oct. 14 date for draft turnaround planNEW YORK (Reuters) - Puerto Rico’s newly created federal oversight board set an Oct. 14 deadline for the island’s governor to draft a fiscal turnaround plan on Friday, as its first public meeting was disrupted by angry protesters. The board asked Governor Alejandro Garcia Padilla to present a plan laying out his vision for stabilizing Puerto Rico, which is grappling with $70 billion in debt, a 45 percent poverty rate and a decade-long recession.  The seven-member board, created under the Puerto Rico rescue law known as PROMESA, was appointed on Aug. 31 by President Barack Obama and legislators. It will have broad powers to manage Puerto Rico’s finances and facilitate debt restructuring talks with creditors. The board met for the first time on Friday in Manhattan, electing Jose Carrion III as chairman. Carrion, one of four native Puerto Ricans on the panel, is an insurance executive and past chairman of Puerto Rico’s Workers Compensation Board. “We’re working as quickly as possible, and we’re establishing the procedures as transparently as possible,” Carrion told reporters after the meeting, which lasted less than 30 minutes. It is unclear what impact Garcia Padilla’s fiscal turnaround plan will have. The unpopular governor is not seeking a second term in the Nov. 8 election, and the front-runner for his seat, a member of an opposition party, has different views on how to right Puerto Rico’s ship, including by shrinking government and avoiding the debt defaults Garcia Padilla has initiated over the last year.  Garcia Padilla, in a statement late on Friday, called Carrion’s leadership of the board a positive step. “In this process, we will try to make the Board understand that, for the recovery to be real, it must deal with the fiscal aspects, while protecting the economic ones,” Garcia Padilla said. Protesters inside the auditorium interrupted the meeting, shouting profanities and likening the board to a form of “slavery.”  “Shame on all of you,” yelled one protester before being thrown out. “Stop pillaging Puerto Rico.”  The board on Friday also voted to include most major Puerto Rican entities as “covered entities” under its oversight, including Puerto Rico itself, its public pension systems, its highway, water and electric authorities and sales tax authority COFINA.  The board voted to request financial information from Garcia Padilla including weekly cash flow reports, monthly reports on revenues and tax collection efforts and monthly payroll reports. politicsNews
puerto rico board sets date draft turnaround planned york reuters puerto rico newly created federal oversight board set deadline island governor draft fiscal turnaround plan friday first public meeting disrupted angry protesters the board asked governor alejandro garcia vanilla present plan laying vision stabilizing puerto rico grappling billion debt percent poverty rate recession the board created puerto rico rescue law known process appointed president barack obama legislators it broad powers manage puerto rico finances facilitate debt restructuring talks creditors the board met first time friday manhattan electing jose caption iii chairman caption one four native puerto ricas panel insurance executive past chairman puerto rico workers compensation board we working quickly possible establishing procedures transparent possible caption told reporters meeting lasted less minutes it unclear impact garcia vanilla fiscal turnaround plan the unpopular governor seeking second term election seat member opposition party different views right puerto rico ship including shrinking government avoiding debt defaults garcia vanilla initiated last year garcia vanilla statement late friday called caption leadership board positive step in process try make board understand recovery real must deal fiscal aspects protecting economic ones garcia vanilla said protesters inside auditorium interrupted meeting shouting profanities linking board form shame yelled one protester thrown stop pillaging puerto the board friday also voted include major puerto rica entities covered entities oversight including puerto rico public pension systems highway water electric authorities sales tax authority coming the board voted request financial information garcia vanilla including weekly cash flow reports monthly reports revenues tax collection efforts monthly payroll reports politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Puerto Rico board sets Oct. 14 date for draft turnaround planNEW YORK (Reuters) - Puerto Rico’s newly created federal oversight board set an Oct. 14 deadline for the island’s governor to draft a fiscal turnaround plan on Friday, as its first public meeting was disrupted by angry protesters. The board asked Governor Alejandro Garcia Padilla to present a plan laying out his vision for stabilizing Puerto Rico, which is grappling with $70 billion in debt, a 45 percent poverty rate and a decade-long recession.  The seven-member board, created under the Puerto Rico rescue law known as PROMESA, was appointed on Aug. 31 by President Barack Obama and legislators. It will have broad powers to manage Puerto Rico’s finances and facilitate debt restructuring talks with creditors. The board met for the first time on Friday in Manhattan, electing Jose Carrion III as chairman. Carrion, one of four native Puerto Ricans on the panel, is an insurance executive and past chairman of Puerto Rico’s Workers Compensation Board. “We’re working as quickly as possible, and we’re establishing the procedures as transparently as possible,” Carrion told reporters after the meeting, which lasted less than 30 minutes. It is unclear what impact Garcia Padilla’s fiscal turnaround plan will have. The unpopular governor is not seeking a second term in the Nov. 8 election, and the front-runner for his seat, a member of an opposition party, has different views on how to right Puerto Rico’s ship, including by shrinking government and avoiding the debt defaults Garcia Padilla has initiated over the last year.  Garcia Padilla, in a statement late on Friday, called Carrion’s leadership of the board a positive step. “In this process, we will try to make the Board understand that, for the recovery to be real, it must deal with the fiscal aspects, while protecting the economic ones,” Garcia Padilla said. Protesters inside the auditorium interrupted the meeting, shouting profanities and likening the board to a form of “slavery.”  “Shame on all of you,” yelled one protester before being thrown out. “Stop pillaging Puerto Rico.”  The board on Friday also voted to include most major Puerto Rican entities as “covered entities” under its oversight, including Puerto Rico itself, its public pension systems, its highway, water and electric authorities and sales tax authority COFINA.  The board voted to request financial information from Garcia Padilla including weekly cash flow reports, monthly reports on revenues and tax collection efforts and monthly payroll reports. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: puerto rico board sets date draft turnaround planned york reuters puerto rico newly created federal oversight board set deadline island governor draft fiscal turnaround plan friday first public meeting disrupted angry protesters the board asked governor alejandro garcia vanilla present plan laying vision stabilizing puerto rico grappling billion debt percent poverty rate recession the board created puerto rico rescue law known process appointed president barack obama legislators it broad powers manage puerto rico finances facilitate debt restructuring talks creditors the board met first time friday manhattan electing jose caption iii chairman caption one four native puerto ricas panel insurance executive past chairman puerto rico workers compensation board we working quickly possible establishing procedures transparent possible caption told reporters meeting lasted less minutes it unclear impact garcia vanilla fiscal turnaround plan the unpopular governor seeking second term election seat member opposition party different views right puerto rico ship including shrinking government avoiding debt defaults garcia vanilla initiated last year garcia vanilla statement late friday called caption leadership board positive step in process try make board understand recovery real must deal fiscal aspects protecting economic ones garcia vanilla said protesters inside auditorium interrupted meeting shouting profanities linking board form shame yelled one protester thrown stop pillaging puerto the board friday also voted include major puerto rica entities covered entities oversight including puerto rico public pension systems highway water electric authorities sales tax authority coming the board voted request financial information garcia vanilla including weekly cash flow reports monthly reports revenues tax collection efforts monthly payroll reports politicsnews