Tag: US default

• Monday, October 14th 2013 - 05:31 UTC

  IMF warns US default means massive disruption and world recession

  

  The head of the International Monetary Fund, Christine Lagarde, has warned that a US default could tip the world into recession. In a US TV interview she said a default would result in “massive disruption the world over”.

• Thursday, October 3rd 2013 - 06:35 UTC

  ‘Exasperated’ Obama warns Wall Street that Republicans could force the US to default on its debt

  

  US President Barack Obama has warned that Wall Street should be concerned that a conservative faction of Republicans is willing to allow the country to default on its debt. The US government has partially closed after Congress failed to agree a budget and will run out of cash on 17 October unless its debt ceiling is raised.

• Monday, August 22nd 2011 - 07:19 UTC

  Biden tells China US power not waning and anticipates a bumpy 2012

  

  US Vice President Joe Biden rejected views that US power is waning and said Washington would never default, wrapping up a China visit that has played down tensions between the world's two biggest economies. He also anticipated 2012 was a ‘transition year” both for the US and China

• Tuesday, August 2nd 2011 - 07:27 UTC

  With hours before default deadline, US Senate votes on debt ceiling package

  

  US House of Representatives has passed by 269 votes to 161 a last-gasp deal to avoid a federal debt default. The bill is expected to be approved by the Senate and signed into law by President Barack Obama on Tuesday.

• Monday, August 1st 2011 - 19:59 UTC

  Nobel Prize Krugman criticized Obama for giving in on debt deal

  

  The Nobel Prize winner economist Paul Krugman harshly criticized President Barack Obama for giving in to pressure compromising on a debt ceiling deal that defenders say will save the country from default.

• Monday, August 1st 2011 - 07:16 UTC

  Obama announces agreement to raise US debt-limit; Congress has to vote the deal

  

  President Barack Obama announced Sunday Republican and Democratic leaders have reached an agreement on raising the US debt limit and avoiding default. He said the deal would cut one trillion dollars of spending over 10 years, and set up a committee to report by November on a proposal to further reduce the deficit.

• Monday, August 1st 2011 - 06:21 UTC

  Brazil ready to announce 30bn dollars tax relief for industry

  

  Brazil is prepared for the event of a United States default if no agreement is reached in the US congress on the debt ceiling and will also implement a 30 billion dollars tax relief program to prop Brazilian industry competitiveness, announced Finance minister Guido Mantega.

• Thursday, July 28th 2011 - 06:22 UTC

  The US government debt ceiling: what did Eisenhower do back in 1953?

  

  Should the US follow the example of President Dwight Eisenhower back in 1953, asks Alex J Pollok, resident fellow at the American Enterprise Institute and Anne Canfield president of Canfield & Associates, Washington, D.C. in an article published in The American Journal of the AEI.

• Thursday, July 28th 2011 - 06:19 UTC

  Lower House to vote on (doomed) Republican proposal to raise US debt ceiling

  

  US House of Representatives speaker John Boehner is urging Republicans to back his plan to cut the US budget and raise the debt limit. Boehner's appeal to conservative House Republicans came despite a White House veto threat and rejection from Democratic leaders in the Senate.

• Monday, July 25th 2011 - 20:53 UTC

  IMF calls for ‘swift rise in US debt ceiling’ and warns of risks to world economy

  

  The International Monetary Fund urged the United States to swiftly raise the debt ceiling to ward off risks of a credit downgrade that could damage the global economy.