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Michigan governor declares Detroit fiscal emergency

Reuters
Friday, 1 March 2013

DETROIT (Reuters) - Michigan Governor Rick Snyder on Friday officially declared Detroit in a fiscal emergency, setting the stage for a state takeover of the city's financial management and ultimately the possibility of the largest municipal bankruptcy in U.S. history.
» Full news story
Process towards manager for Detroit underway
Source: The Oakland Press
News video: Process towards manager for Detroit underwayOakland County Executive L. Brooks Patterson talks about what's next in the process now that Michigan Gov. Rick Snyder has determined Detroit has a financial emergency.

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