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NEW YORK, Dec 10 (Reuters) - Oil prices slumped to five-yearlows on Wednesday and U.S. and European equity markets fell asinvestors, worried about the Greek and Chinese economies,withdrew from riskier positions and bought Japanese yen, whichrose against the U.S. dollar.

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Orr said court-ordered mediation on fees paid to consultants during the bankruptcy process was continuing on Wednesday. Outside lawyers and consultants charged the city more than $140 million, sparking protests from Duggan. Orr said some of the issues were "resolved last week."

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"If interest rates were allowed to rise, it would not be too long until interest-rate expenses consumed an unmanageable portion of your tax revenues," said John Mauldin, chairman of Mauldin Economics, based in Dallas, Texas.