As the moment when the United States could hit the debt ceiling and run out of money draws closer, euronews’ Washington correspondent, Stefan Grobe, has been speaking to ABC News correspondent, Tahman Bradley.
Stefan Grobe, euronews:
Tahman let me ask you this, many people around the world are wondering what’s going on with America. Why has this country become so disfunctional? Have you ever seen such a situation before?
Tahman Bradley: No Stefan this is the worst things have ever been. We have a long tradition in this country of divided government but this goes much further. This is a divided Republican party. The Tea Party, one small faction of the Republican party, caused this shutdown and caused this threat of default. They have said it is “my way or the highway”, there is no more compromise here in Washington. Both sides are dug in to their positions and so that is why you see the government unable to function, the government unable to even remain open. Basic things that they’re supposed to do, like to pass a budget in order to fund the government, that is something that the Tea Party has held hostage in its pursuit of undoing the president’s healthcare law. And this is something that was debated, Congress passed President Obama’s signature healthcare law, the Supreme Court upheld it but the Tea Party said that they wanted to undo it and they dug in.
Looking ahead, what’s going to happen as of tomorrow on global markets, what do you think?
Well global markets could be stunned, certainly if they work out this past-the-Senate deal to avoid the default, there is still the potential that the US could be downgraded again. We saw that two years ago when we had all this brinkmanship, that in fact the US’s credit rating was downgraded, but the fact of the matter is Stefan, with this Senate deal it will be back here having these fights again in December and January so little has changed.