Arab Today, arab today singapore pm us debt default will rock global system
Last Updated : GMT 22:03:31
Arab Today, arab today
Arab Today, arab today

Singapore PM: US debt default will rock global system

Arab Today, arab today

Arab Today, arab today Singapore PM: US debt default will rock global system

Singapore - XINHUA

A United States debt default will shake the fundamental element of the global financial system and cause it to enter uncharted waters, Singapore Prime Minister Lee Hsien Loong has warned. \"If that fundamental element is shaken -- even the U.S. government can default -- I don\'t know what will happen to your spreads or the rest of the complicated system of financial markets. You\'re going into unchartered waters,\" local daily Straits Times on Wednesday quoted Lee as saying in Bali, Indonesia at the end of Asia-Pacific Economic Cooperation (APEC) summit. The United States government and lawmakers have until Thursday next week to reach an agreement and avoid a first-ever default on U.S. Treasury bonds -- a scenario that economists are warning could throw the world economy into a tailspin. Lee said that the political brinkmanship was an experiment that should be avoided. \"Nobody knows what the impact will be,\" he said. The buying of U.S. Treasury bills has been to date a \"risk-free solution\" for governments and institutions with surpluses. Lee said if a solution could not be reached, it would send a negative signal to the world that the United States could not resolve its own practical problems. \"I mean, these are problems which you have created for yourself in a game of chicken,\" he said. On the impact on the Asia Pacific, Lee said that the concern is whether the United States will be able to sustain the consensus and the direction of its efforts in the region even though it has the intentions. \"We have to hope the Americans will be able to overcome these problems and maintain that direction despite their domestic difficulties,\" he said. U.S. President Barack Obama canceled a week-long trip to the region and his attendance at both the APEC and the East Asia Summits. In Bali, the United States had hoped to make significant strides towards sealing an ambitious trade pact by the end of the year. A statement from the 12 countries involved in negotiations for the Trans-Pacific Partnership said talks are still \"on track.\"

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today singapore pm us debt default will rock global system Arab Today, arab today singapore pm us debt default will rock global system

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Rebel supporters flood Yemen streets

GMT 06:39 2017 Monday ,27 March

Rebel supporters flood Yemen streets
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Nermein Al Fekki films “Foxes in the Valley”

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday