IMF boss warns 'clock is ticking' on US debt
The new head of the International Monetary Fund Christine Lagarde has warned the "clock is ticking" on a deal to tackle the United States deficit.
Lagarde has called for a speedy resolution to the $14.3tn debt crisis, stating that a default or significant downgrading of the US signature would be 'very serious'
Unless politicians agree a package by 2 August the US may be unable to pay its bills, triggering an economic crisis.
26 Jul 2011
- From the section Business