NEW YORK ( TheStreet) -- Is Greece actually better off than Detroit? Many may think it's not possible but Axel Merk, CIO of Merk Investments, told TheStreet's Joe Deaux that is the case.Detroit's Chapter 9 bankruptcy filing is the largest municipal default in United States history. Like Greece, Detroit's pension liabilities were one of the many factors that caused the city to slip into economic distress.
Quick Take: Greece Is Better Off Than Detroit
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