Tuesday, October 8, 2013
U.S. Debt Issue Could Hurt Global Economy: Aso
TOKYO (NQN)--Deputy Prime Minister and Finance Minister Taro Aso said Tuesday morning he expects the U.S. to resolve its fiscal issues as soon as possible.
At a news conference following a cabinet meeting, Aso said the global economy will be harmed if the problem over the U.S. debt grows more serious.
The U.S. will default on its debt on Oct. 17 unless Congress raises the debt ceiling. Should a default occur, the value of U.S. Treasuries held by the Japanese government will fall, as will the absolute amount of such Treasuries among all foreign currencies held by Japan.
"I expect the U.S. to resolve the matter swiftly," Aso said.