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1976 DAJV Newsl. 1 (1976)

handle is hein.journals/dajvnws2 and id is 1 raw text is: DAJV - DEUTSCH-AMERIKANISCHE JURISTEN-VEREINIGUNG e.V. - DAJV FORUM BONN Nr. 1/76 15. Februar 1976 LEGAL AND FINANCIAL PROBLEMS L--G---------------------------- OF LARGE CITIES IN THE -------------S----------------- UNITED STATES AND GERMANY Report on the D A J V - lecture evening on Dezember 10, 1975, in Bonn by Peter H. P f u n d I. During summer and fall 1975 the financial problems of N e w Y o r k C i t y increasingly received public attention. The timeliness of the D A J V's lecture evening was evident from the fact that it took place one day before, once again, a massive amount of New York muni- cipal debt was to become due. Until a few days earlier it had seemed that without federal government action New York would default on its debt payments. Newspapers in Europe warned darkly that the effects of such a default would be felt far beyond the city and even the United States, be- cause of New York's actual and symbolic role as financial hub of the West. The lectures by Professor Fred M o r r i s o n of the University of Minnesota Law School (Minneapolis) and Bei- geordneter Hans-Joachim S c h a f e r, financial expert of Deutscher Stadtetag K61n, pointed out that municipalities in both countries face increasing financial difficulties for similar reasons. They also demonstrated the differences between the largely unstructured, unsupervised self-deter- mination of United States municipalities and the stringent controls imposed upon German municipalities by law and by the strictures under which Federal and Lander grants are made.

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