How did Europe react to the U.S. debt deal?
The U.S. debt ceiling deal has been signed into law but European stocks fell amid fears around the country’s economic recovery and its ability to avoid a major credit downgrade.
The debt debate revealed the country’s political intransigence and threw more doubt over the world’s recovery, already struggling to deal with the financial crisis in Europe.
Questions are now being raised around the damage caused to the reputation of the U.S. Treasury and currency markets as the world’s safe investment haven.
They bicker. They point fingers. They reluctantly agree to do something they really don’t want to do.
This is not a primary school classroom. This is the United States Congress.
A recent CNN poll shows that more than 75% of Americans feel their lawmakers have acted like “spoiled children.”
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