It is interesting to see that while the EU seems still incapable of finding a solution for the Euro problems in the US a discussion is starting about allowing states to go bankrupt.
Follow-up:
There was another article on this subject. It appears that the proposal to make it possible that states can go bankrupt came from Republicans who wanted to prevent a government bailout of troubled states like California and Illinois. But what followed was a near panic on the markets and now they are backpedaling.
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