Summary: The German election and the US debt ceiling crisis are the two political events dominating the economic headlines - and for good reason; these two events could have potentially big consequences on the regional and global economy. In the case of the US, a threatened debt default would be catastrophic. Some comments on what to expect are below.
The US government is likely to shut down
First, let's look at the US. As it stands now, we are at an impasse where a government shutdown seems likely. Republican Speaker of the House John Boehner has said Republicans are unlikely to support sending a clean debt ceiling bill without conditionality attached to the President. And the President has said he would not negotiate with the Republicans again over the debt ceiling ...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.