EU EURO COUNTRIES: Republican bill passes, opening path to debt deal | Reuters

Saturday, July 30, 2011

Republican bill passes, opening path to debt deal | Reuters

Republican bill passes, opening path to debt deal | Reuters

2 comments:

RAYLOKEJuly 30, 2011 at 4:56 AM
Both sides have been at impasse for weeks with lawmakers locked in a blame game that has brought the country to the brink of an unprecedented default, which could plunge America back into recession and trigger economic turmoil globally.

World leaders have been stunned by the dysfunction in Washington. World Bank President Robert Zoellick on Friday said the United States was playing with fire.

America's largest foreign creditor, China, has repeatedly urged Washington to protect its dollar investments and its state-run news agency on Friday said the United States had been "kidnapped" by "dangerously irresponsible" politics.
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RAYLOKEJuly 30, 2011 at 5:08 AM
Rival ratings agency Standard & Poor's has warned it could cut the rating soon if there is no deal to address the underlying budget problems, a move which could push up U.S. borrowing costs and further hobble the weak economic recovery.

Fears about the health of America's economy multiplied after a government report showed weaker-than-expected growth in the first half of the year, raising the risk of recession.
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