Saturday

The world from Berlin - The US is holding the whole world hostige

The world from Berlin - The US is holding the whole world hostige With no solution to the US debt crisis in sight, the rest of the world is starting to get nervous.German commentators urge congressional leaders to get their act together.A US default would have catastrophic consequences, they warn.Both Moody's and Standard & Poor's are threatening to downgrade the country's debt amid fears of a national insolvency.But for once it is not a debt-stricken euro-zone member that has come into the crosshairs of the powerful rating agencies.This time it is the United States, the world's largest economy, that is at risk of going bust .The US needs to raise its debt ceiling, currently set at $14.3 trillion (в