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Original title: Motor City Detroit into fiscal emergency
American famous Motown Detroit was once America's fourth largest city, but now because of debt and into fiscal emergency.
Michigan Gov. Rick Snyder announced local time on March 1, the city of Detroit into fiscal emergency. "There was a lot of people made a lot of good plans to change the situation, but without success and I think we should stop now, and do not have a dispute, not to blame each other, we do not have enough resources, not enough manpower to work together, so I call to solve these problems. "
Prompting Gov. Snyder announced that the city of Detroit into the root causes of the financial state of emergency, is $ 327 million budget deficit currently facing the city, and up to $ 14 billion of long-term debt scale, the long-term debt is mainly government civil servants wages, health insurance, and pension costs of civil servants who have retired.
At first glance this message is indeed shocking, but in fact, just last year, "Forbes" magazine had to as "America's most miserable city" of Detroit, on the grounds that the crime rate and high unemployment, migration financial crisis and the risk of bankruptcy, and many other negative factors. Indeed, the Motor City Detroit was once America's fourth largest city, but due to political and economic reasons, the population dropped from a peak of 1.8 million to the current more than 710,000, abandoned skyscrapers, factories and homes everywhere in Detroit. Crime is rampant. Financial situation is even more distress, the city government can not even get all the street lights are lit up.
Snyder said the governor will appoint a state of emergency manager to take over Detroit: "The question is how do we stabilize the city, then the city began to develop my point is that we really should stop continued to decline, it began to go up. a. to dispatch emergency manager in Detroit, is to have more resources and means to achieve this goal, hoping to save Detroit. "
The Manager will use a lot of power in this part of Detroit Mayor Dave Bing and the City Council, the media commented that the manager is likely to file for bankruptcy under <a href=http://www.emanganolearning.it/>woolrich outlet</a> the U.S. proposal Detroit "Bankruptcy Law" Chapter 9. In this regard, Detroit Mayor Dave Bing expressed strong opposition: "Unless emergency manager assigned to ensure the financial stability of the city, and also to support <a href=http://www.terzocircolomassafra.it/>hogan spaccio</a> our restructuring plans that will improve the quality of life <a href=http://www.poloscolasticoargenta.it/>woolrich parka</a> of the people, so I have to only We can find ways of cooperation. "
According to local law, <a href=http://www.isaingegneria.it/>scarpe hogan outlet</a> the city of Detroit can be made within 10 days after the governor announced the complaint, but Gov. Snyder to doubt whether the media will <a href=http://www.ristoranteacquaevino.it/>scarpe hogan outlet</a> eventually accept the complaint, after all, it <a href=http://www.terzocircolomassafra.it/>hogan spaccio</a> is clear that Detroit's problem is already deeply embedded it. But so far, the governor has not yet appointed Snyder Detroit emergency manager.
Although now the city of Detroit has not officially declared bankrupt, but already at the edge of the precipice of bankruptcy. Michigan State University professor of urban bankruptcy expert Eric Adams exam Sony said that if Detroit filed for bankruptcy, will become the nation's largest local government bankruptcy case. "This very large and very complex, there are a lot of problems, as well as coordination with many creditors."
Visible, it will be a long process, just walking program will take a very long time. (Reporter Lv Xiaohong)
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