Now it’s Europe’s turn to worry about U.S. economy.Read the rest here.
American officials have been wringing their hands for the past two years about the heavy burden of government debt piling up in Europe. On Tuesday, Europe’s Organization for Economic Co-operation and Development warned that the U.S. "fiscal cliff" threatens prospects for the eurozone’s economic recovery.
“We’re talking here about the medium and long-term viability of the United States economy,” OECD Secretary General Angel Gurria told CNBC. “Not only to avoid the fiscal cliff but then get to a moment where (U.S.) debt stops rising and the debt to GDP starts coming down to an area where we call all breathe more comfortably.”