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11/2/13

U.S. Debt Problems "casting Global Shadow" - says EU's Barroso

Persistent doubts about the ability of the United States to resolve its debt problems are putting U.S. credibility in the world at stake, European Commission President Jose Manuel Barroso has warned.

The White House won a brief respite this month when the Republicans backed down after a 16-day government shutdown. But the temporary fix has only pushed the problem into early 2014, with no comprehensive solution in sight.

Barroso, who heads the European Union executive and has been at the frontline of efforts to resolve Europe's debt crisis over the past three years, said the uncertainty was making investors risk averse, with potentially damaging economic consequences.
 
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