Hard hitting global and local news
Courtesy of Google Translate from El Economista , please consider Parla, one step from bankruptcy: cannot deal with creditors . The economic situation of the City of Parla "can not deal with creditors and maintain basic health services to citizens," according to the report of the Audit Chamber of the Community of Madrid, who advised to take measures to continuity of the consistory.
The California hit parade keeps on rolling as yet Another California city scrambles to avoid bankruptcy . Atwater, a city of roughly 28,000 in California’s Central Valley, may declare a fiscal emergency as soon as next week, but it is trying to avoid becoming the fourth California city to file for municipal bankruptcy this year, its mayor said.
Read More: China’s Shadow Banking System Collapses Exposing Numerous Ponzi Schemes; Implosion Reaches Critical Mass
Please consider this news headline which I openly mock: Expert says bankruptcy for Syracuse is unlikely, but mayor should explore option While the financial situation in the city of Syracuse hasn’t been described as desperate yet, Mayor Stephanie Miner has asked for some legal expertise on municipal bankruptcy. The signs of the city’s financial problems have been evident for several years as city employees accept wage freezes and fire and police departments see staff reductions. The city will use an early payment from Albany to help keep the budget from dipping into dwindling reserves.
More: Zombified Cities Roundup: Detroit Becomes Dumping Ground for the Dead; Financial Urgency in Miami; Oakland Pension Time Bomb; How…
Fearing action by creditors, San Bernardino, California, Files Chapter 9 Bankruptcy Petition San Bernardino, California, after disclosing a $46 million shortfall in the city’s budget, filed for municipal bankruptcy.
In a welcome, common sense ruling, Court lets Stockton, Calif.