Talks are well under way for a €15bn bail out for the struggling city in Michigan. Decades of low growth and poor exports are expected to be turned around by a new austerity policy promoted by Germany Prime Minister, Angela Merkel. Early details suggest that the city may be split into a "good city" of growth and harmony, and a "bad city" full of poor people, which could be sold off at a later date, with China showing early interest.
An unnamed EU official went on record to state that "After successes in Greece, Portugal and Ireland, we believe that we can save the hard-working people of Detroit from years of pain and strife".
Nigel Farage, leader of UKIP, suggested that Detroit's problems date back to their accession into the Eurozone, though he claimed not to remember exactly when this was. During the interview he attacked the German intentions. "Where do you think they're going to find €15 billion? From hard working British voters, that's who. Do you have that kind of money? Well do you?!"
A brief rally from stock markets was short lived after Moody downgraded the city from "junk" to "Greek" rating.