U.S. Default Averted…. But For How Long?
NEW YORK | By Ana Fuentes | U.S. Senate finally reached an agreement to avoid default and end the Government shutdown. Now it’s time for Congress to approve it before midnight although there is formal certainty that economic mayhem has been averted. The world’s largest economy has needed 16 days of partial closure of its Administration, warnings from Wall Street, China, Japan, the IMF… to curb its political fight between Republicans and Democrats. The deal will extend the credit authority of the United States until February 7, and let the Government continue funding its operations until January 15. For many it is just a patch and we will watch the same political ping-pong again after Christmas.