21.12.2010 - US$2tn debt crisis threatens to bring down 100 US cities
From Guardian: 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 More than 100 American cities could go bust next year as the debt crisis that has taken down banks and countries threatens next to spark a municipal meltdown, a leading analyst has warned..............................................Full Article: Source
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