Monday, August 1, 2011

Governments Warn Of Disaster If No Debt Deal


Governments and policy makers around the world warned of the risk of financial disaster if Washington fails to raise the US debt ceiling.
As Congress haggled over a deal to stave off the risk of an unprecedented US default, British and Japanese officials on Sunday said failure could hurt households across the globe.
"The world is watching the United States with trepidation, with anxiety, with concern, but also with hope," International Monetary Fund Managing Director Christine Lagarde told CNN.
"Instability is never a good idea, never a good idea. And this level of uncertainty, the trepidation arising from Aug. 2, is bringing about a lot of instability," she added.
US Democrats and Republicans face a Tuesday deadline to reach agreement. The US Treasury has said it will run out of borrowing room on that day although analysts say it may have enough cash to keep servicing its . . . . . . .

No comments:

Post a Comment

Everyone is encouraged to participate with civilized comments.