Venice is selling it’s historic infrastructure. Barcelona is selling bonds (IOUs) to its own citizens as the markets say no. All over Europe, cities are in financial trouble. They will need bailouts in 2011/12 just like the banks. Who is going to pay? 3 guesses.
100 US cities are on the brink.
Cities will have to operate like states someday soon.
Basically they are going to have to raise revenue from the rich & upper middle class and change the economic model.
The Green idea of a decentralised, high tech, diversified economy has come of age.
That’s a big part of the political agenda this decade.
Maybe we need to reread the history of the city states……..