City is broke. Good. Lay off some politicians

In the rush to centralise the fascist economies
of the world, local governments will run
out of money, and thus a reason for being.

It's just cheaper that way. Vertical political
integration, until we're all ruled directly
by Barroso in Brussels.

checkitout: zerohedge

Athens Municipality Runs Out Of Cash; Suspends All Operations

Submitted by Tyler Durden on 09/21/2012 09:29 -0400

Remember when we said cash flow is always more important than diluting the M2 (the Fed is great at the latter, powerless at the former)? Here's why: The municipality of Acharnes in northern Athens has decided to suspend all of its operations after running out of money. The municipal council met on Thursday night and voted to stop providing anything other than basic services because of its inability to pay employees’ wages and regular expenses. In Nintendo Donkey Kong Game and Watch parlance: Game over.

“Acharnes Municipality will remain closed indefinitely, until the financial problem can be resolved,” the local authority said in a statement.

The municipality will operate with just skeleton staff, which trash will only be collected from outside schools.

Mayor Sotiris Douros is due to meet Interior Ministry officials on Friday to discuss the municipality's problems.

He wants the government to reduce from 11.5 percent to 5.5 percent the interest rate on a loan to the municipality. Douros argues that the monthly loan repayments of 500,000 euro is to high.

Coming to an insolvent, cash free, Keynesian experimental abortion near you.