Detroit files for bankruptcy
The city of Detroit in the United States has become the largest American city to file for bankruptcy. It has debts of more than £11 billion.
Detroit Mayor: Bankruptcy decision was 'very difficult'
The Mayor of Detroit said the decision to file for bankruptcy protection was "very difficult", adding, "If it's going to make the citizens better off then this is a new start for us".
Mayor Dave Bing told a news conference: "This is a very, very difficult day for me, as I'm sure it is for a lot of our citizens here in the city of Detroit.
"When I took office over four years ago, I said Detroit was in a financial crisis and we tried to work our way through this situation over the last four years but it has been very, very difficult.
"As tough as this is, I really didn't want to go in this direction, but now that we are here, we have to make the best of it".
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City of Detroit files for bankruptcy
Once a powerhouse of the US car industry, Detroit has filed for bankruptcy as it owes creditors almost $20bn it cannot pay.
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Detroit - broken city
Detroit, once a booming American metropolis, has become the largest US city to file for bankruptcy, with debts of at least $18bn.