Birmingham, England Declares Bankruptcy

The UKs second-largest city is now bankrupt and is now defaulting on their debt. I don't know about paying employees and such. Are more to follow?

 

Wow . that is not good anywhere. Sigh

 

Its been a down hill slide for the whole of my mother country ever since they severed connections with the EU, they have far more people in many of the areas than their resources can support but 51% wanted to be independent and now they are paying the price. As much as I support individual independence I think those days are long gone both localy and country wide.

 

Dont accept the brexit link more to do with Covid and a bent council.

Calls for police probe into bankrupt Birmingham Council's £11M payments to tiny taxi firm charging £200-a-day to take one pupil to school - as city faces selling major assets from library to museum and airport to cover debts (msn.com)

 

I remember Back in the sixties, New York City was going to declare bankruptcy (with sanitation workers strike, the icing on the cake) and the Federal Gov't was not going to bail them out. World opinion caused the gov't to change their mind.
In today's climate, with all of the 'migrants' living in the streets etc, with the gov't threatening a shut down again not sure bailouts can happen again. Especially with events happening to many other cities and states.
It is happening all over the world. Not sure what can be done.

 

Better management and thinking before pushing stupid policies with horrible consequences.

 

Yeah, I don't think Brexit had anything to do with it. Having Brussels dictate what you can and cannot do within your country and territorial waters was nuts from the beginning. Cracks are developing throughout the EU. Turkey has announced it is giving up on becoming a member and is courting BRICS instead. France is also courting BRICS and Germany, the dictator of the EU, is having terrible trouble behind the scenes since their cheap energy form Russia has been cut off by the U.S. and Norway.