British Business Secretary Vince Cable has attacked "right-wing
nutters" in the United States for rejecting a debt deal, saying they pose a
bigger threat to the world economy than the euro zone crisis.
The comments by Cable, a Liberal Democrat who is one of the most
outspoken members of Britain's coalition government, came as President Barack
Obama vied with Republican lawmakers for a deal to avert an unprecedented debt
default.
"The
irony of the situation at the moment, with markets opening tomorrow morning, is
that the biggest threat to the world financial system comes from a few
right-wing nutters in the American Congress rather than the euro zone," Cable
told the BBC.
A new debt deal struck in Europe to prevent a default by Greece, a
move which could also help struggling Ireland, proved that the European Union
was now showing the United States the way to go, he added. AFP
Foreigners hold about 47 percent of U.S. public debt. CS Monitor The largest foreign holder of the U.S. public debt is China holding
9.8 percent. Next comes Japan, with 9.6 percent, and the United Kingdom, with
5.1 percent. CS Monitor The U.S. officially hit its $14.3 trillion debt ceiling on May 16,
2011. WSJ The U.S. government could potentially default on its debts on August
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