Detroit emergency manager said that the city must help itself and not wait for the government to come to its rescue.

Kevyn Orr, who is charged with guiding the collapsed Detroit through the bankruptcy of the largest city in the US, said that if the government would help this would be ‘great’ but that he is not relying on it.

“Hope is not a strategy from my perspective. I can’t plan on the basis of what may or may not happen or what help may or may not come,” said Orr. “We are not expecting the cavalry to come charging in,” he said. “We have to fix it because we dug the hole.”

Thursday, July 18th, Detroit filed for bankruptcy, preparing the stage for a costly court battle with its creditors, trying to revive what was once the cradle of the US auto industry. If it will be approved by a federal judge the bankruptcy will force the thousands of creditors to begin negotiations with Orr and find a solution for the estimated $18.5 billion debt.

“I’m not sure exactly what to ask for. I mean, money is going (to) help, no doubt about that, but how much?” said Detroit Mayor Dave Bing.

Source: Reuters


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