U.S. city Detroit files for bankruptcy

U.S. city Detroit filed for bankruptcy Thursday, making it the largest-ever municipal bankruptcy in U.S. history, local media reported.

Detroit, saddled with more than 18 billion U.S.dollars in debt, became the biggest U.S. city in history to file for bankruptcy. The 16-page petition was filed in U.S. Bankruptcy Court in Detroit.

Michigan Governor Rick Snyder authorized Kevyn Orr, Detroit emergency manager, to file for federal bankruptcy, saying "it is clear that the financial emergency in Detroit cannot be successfully addressed outside of such a filing, and it is the only reasonable alternative that is available."