Day before default. US rating can reduce

Day before default. US rating can reduce October 16, 2013

Before the deadline established by the US Federal Treasury, after which the country is facing a technical default, a little more than a day remained, and President Obama failed to agree with the republican majority in the lower house of Congress. Moreover, he promised the Senators-Democrats supporting him, which would impose a veto on the preparing bill of the Republicans in the House of Representatives, if he includes political conditions for the adoption of the budget and expand the state debt limit. At the same time, according to Reuters, the work on the budget bill in the House of Representatives stalled, and there is no information about when it resumes.
The result of the lack of a compromise was the statement of the international rating agency Fitch that the US sovereign credit rating was put on a review with a negative forecast. The possible decrease in the US rating, which now has the maximum value of “AAA”, the agency’s analysts directly associated with possible default, which threatens Washington if the ceiling of the public debt is not increased until October 17. “Although we continue to believe that the ceiling will soon be increased, political feuds increase the risk of default of the United States,” the press release published on the agency said.
It is worth noting that the Fitch agency has never reduced the US credit rating with maximum importance. In 2011, in a similar situation, a sovereign rating of the United States reduced another largest agency - Standard & Poor's. Then this caused a serious fall in stock markets, but soon the agreement between Obama and the Republicans soon avoided more serious economic shocks.

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• DIRECT SPEECH:

  Konstantin Sonin: Obama follows consistently logic: you cannot increase the debt without the new consent of the Congress.

  Evgeny Yasin: They need to decide on measures very unpleasant for any government ...

  
• In the media:

  Kommersant : the probability of technical default in the United States is small. However, if it is nevertheless declared, this threatens the global economy with serious troubles.

• In blogs:

  Artur AGASIEV: There are two things in the world without end: the Universe and ceiling of the US State debt