DETROIT Feb 19 A team appointed by Michigan
Governor Rick Snyder said on Tuesday that the city of Detroit
faces a financial emergency and needs help to make difficult
While the report by the six-member team assembled by the
Republican governor in December did not recommend an emergency
financial manager, it said the city was in crisis.
"The team collectively believes the city needs assistance in
making the difficult decisions necessary to achieve the
significant reforms that are so crucial to the city's long-term
viability," Michigan Treasurer Andy Dillon, a review team
member, said in a statement.
Snyder has up to 30 days to accept or reject the team's
If an emergency manager is appointed, one option would be
for Detroit to file for bankruptcy in what would be the
largest-ever municipal bankruptcy in the United States. The
final decision on whether to file for what is known as Chapter 9
bankruptcy would rest with a group of Michigan state government
officials appointed by Snyder.