Michigan governor declares Detroit fiscal emergency
DETROIT, March 1
DETROIT, March 1 (Reuters) - Michigan Governor Rick Snyder on Friday officially declared Detroit in a fiscal emergency, setting the stage for the state to appoint an outside manager to oversee the city's finances.
The Republican governor announced that he agreed with a Feb. 19 report by a six-member team of experts that concluded Michigan's largest city is in dire financial shape and a plan put in place last April to aid Detroit was not working.
Detroit officials now have 10 days to request a hearing with the governor about his decision.