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IMF's Lagarde: U.S. Going Over Fiscal Cliff Would Cause 'Repercussions Around the World' -BBC

Date : 12/08/2012 @ 3:42AM
Source : Dow Jones News

IMF's Lagarde: U.S. Going Over Fiscal Cliff Would Cause 'Repercussions Around the World' -BBC

Christine Lagarde, the International Monetary Fund Managing Director, said in an interview with the BBC that if the U.S. falls off the fiscal cliff, there will be "repercussions around the world."

Ms. Lagarde said that if the U.S. economy has 2% less growth as a result of going over the cliff, it would likely lead to 1% less growth in Mexico and Canada, with a smaller impact in Europe and Japan.

Ms. Lagarde told the BBC that U.S. political leaders need to consider that the U.S. provides an "international reserve currency, and a safe haven," and said "uncertainty fuels doubt" about U.S. economic leadership.

Full story at http://www.bbc.co.uk/news/business-20645852

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