Maybe I’m the only one noticing how similar Cyprus and Detroit are? About the same population and about the same debt. But the Detroits don’t apparently have any big-bucks Russian depositors to steal from. You folks in Detroit better keep your heads down.
Ha...cherokee1, they will wind up getting YOUR tax money as part of a bailout. You don't really expect anyone in Detroit to pay do you? Come on.
The committee set up by the state government will offer state money for a bailout if the federal government will make a federal GRANT (your money) into the bailout.(The federal bailouts will be made through the states to mask the federal give-aways to these DEMOCRAT run cities.)
This will happen again and again as other cities go bankrupt too.