The debt dispute is causing great uncertainty.
(Photo: AP)
Frankfurt The US is running out of time. Only a few days remain for the world’s largest economy to prevent a global crisis. In the bitter US debt dispute, an agreement between Democratic President Joe Biden and the Republicans is still pending. According to forecasts by Treasury Secretary Janet Yellen, the US government is at risk of default from the beginning of June. If this were to happen, confidence in the creditworthiness of the world’s largest economy would be shaken. Top bankers and politicians warn of a global financial crisis.
Both sides have repeatedly emphasized that they want to avoid this scenario. But on Tuesday, another round of negotiations ended with no sign of rapprochement. There are already distortions on the markets, and experts warn of violent swings, even if the parties should still come to an agreement.
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