Detroit files for largest municipal bankruptcy in US history
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Michigan governor Rick Snyder announces that the city of Detroit has filed for bankruptcy on Thursday. If approved by a federal judge, Detroit would become the largest ever municipal bankruptcy in US history. Detroit's thousands of creditors are in negotiations with the city's emergency manager Kevyn Orr to resolve an estimated $18.5bn (£12.15bn) debt. Dave Bing, the mayor of Detroit, gives his reaction
