Rick Snyder
Media playback is unsupported on your device

Governor Rick Snyder: 'Let me be blunt. Detroit's broke'

Detroit has become the largest city in the United States ever to file for bankruptcy.

It has debts of at least $15bn (£10bn) and is is seeking protection from creditors who include public-sector workers and their pension funds.

The crisis follows decades of industrial decline, a shrinking population and falling tax income.

A video of Governor of Michigan Rick Snyder was posted online, where he announced: "Let me be blunt. Detroit's broke."

  • 19 Jul 2013
Go to next video: Detroit files for bankruptcy