Victoria is, or will soon be in a position where they aren't receiving enough income to pay their interest and if they can get out debt and survive somehow, without declaring bankruptcy, then there's a new financial system in place that I'm unaware of.
I'm assuming they cannot bleed taxpayers and business too much more. I'm also assuming they're at the end of depleting services which they're charged to provide such as hospitals, ambo's, police, trains etc.
