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Story summary
- Oberhausen’s municipal finances have collapsed, leaving the city with no assets and a €2 billion debt burden.
- City Treasurer Apostolos Tsalastras said the €1.2 billion budget falls €100 million short.
- The administration raised parking fees by 50 percent and will cut 5 percent of municipal jobs, likely lengthening office wait times.
- Chancellor Friedrich Merz announced that from September 1 federal and state governments must fund the tasks they assign to municipalities.
