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Its such a bullshit problem too. the central government has all the powers to ensure no sub-national government can go bankrupt. By allowing them to issue debt that Central Government guarantees if local Governments are unable to pay. Or just giving them the money they need in the first place.
Its such a bullshit problem too. the central government has all the powers to ensure no sub-national government can go bankrupt. By allowing them to issue debt that Central Government guarantees if local Governments are unable to pay. Or just giving them the money they need in the first place.
Central Governments deliberately cutting funding to sub-national Governments which they don't like by reducing their deficit limit or giving them less share happens in other countries too.