The Associated Press is reporting that the Greek Parliament has approved a crucial austerity and debt-relief bill to keep the country out of bankruptcy and remain a part of the eurozone.
From the AP:
Originally published on Wed October 12, 2011 12:06 pm
After a 4-3 vote by the Harrisburg, Pa., city council Tuesday night to file for Chapter 9 municipal bankruptcy protection, a council member delivered the necessary documents to court today.
But now, The Associated Press reports, Harrisburg Mayor Linda Thompson (D) is making the case that the council doesn't have the authority to seek bankruptcy.
Host Liane Hansen talks with law professor David Skeel about a proposal that would allow states to declare bankruptcy as a way to handle overwhelming debt.