Tuesday, December 21, 2010

$2tn debt crisis threatens to bring down 100 US cities

"Overdrawn American cities could face financial collapse in 2011, defaulting on hundreds of billions of dollars of borrowings and derailing the US economic recovery. Nor are European cities safe – Florence, Barcelona, Madrid, Venice: all are in trouble..."

at http://www.guardian.co.uk/business/2010/dec/20/debt-crisis-threatens-us-cities

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