Detroit emergency manager Kevyn Orr speaks with reporters after a meeting with creditors in Romulus, Mich., Friday, June 14, 2013. Orr says the city is defaulting on about $2.5 billion of debt. Orr said that Detroit is asking creditors to take about 10 cents on the dollar of what they're owed. Under-funded pension claims will get less. (AP Photo/Paul Sancya)

Associated Press
Detroit emergency manager Kevyn Orr speaks with reporters after a meeting with creditors in Romulus, Mich., Friday, June 14, 2013. Orr says the city is defaulting on about $2.5 billion of debt. Orr said that Detroit is asking creditors to take about 10 cents on the dollar of what they're owed. Under-funded pension claims will get less. (AP Photo/Paul Sancya)
Detroit emergency manager Kevyn Orr speaks with reporters after a meeting with creditors in Romulus, Mich., Friday, June 14, 2013. Orr says the city is defaulting on about $2.5 billion of debt. Orr said that Detroit is asking creditors to take about 10 cents on the dollar of what they're owed. Under-funded pension claims will get less. (AP Photo/Paul Sancya)
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