Emergency state 'not hard to justify' says Snyder when faced with recent damning report claiming Detroit close to collapse
The governor of Michigan declared the city of Detroit to be in a state of "financial emergency" Friday and said he would appoint an independent overseer in an attempt to save it from financial ruin.
A state report last week concluded the city was close to financial collapse and experts fear it could become the biggest municipal bankruptcy in Us history.
"I believe it's appropriate to declare the city of Detroit in financial emergency based on the review team report," governor Rick Snyder said during a town hall meeting at Detroit's Wayne State University. "It's not hard to justify that conclusion."
Under Michigan law, an outside manager could eventually lead the financially troubled city into bankruptcy, a proceeding that would make Detroit the most populous American city ever to do so. »
- Heidi Moore, Dominic Rushe
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