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How American cities could cause the next financial crisis

Thursday, 30th September 2010

When it comes to bankrupt or near-bankrupt states, the focus right now is all on Europe. We've got Ireland figuring out what to do about Anglo-Irish Bank, with the final bill put at €29.3bn this morning (although it could hit €34bn in a 'severe hypothetical stress scenario'). And we've got the usual rumblings about Greece and Portugal and all the rest just waiting in the wings.

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