8 August 2011, 16:41

S&P drops US credit rating

S&P drops US credit rating
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Interview with Dr. Scheherazade Rehman , Director of EU Research Center, Professor of International Finance and Business and Professor  of International Affairs at the George Washington University. S&P has downgraded US credit rating from AAA to AA+. According to Dr. Rehman, it’s a reflection of US government’s inability to get things done.

Interview with Dr. Scheherazade Rehman, Director of EU Research Center, Professor of International Finance and Business and Professor  of International Affairs at the George Washington University. S&P has downgraded US credit rating from AAA to AA+. According to Dr. Rehman, it’s a reflection of US government’s inability to get things done.  The US administration dragged the debt ceiling settlement down to the eleventh hour and instead of having a good package, which would be worth the wait, ended up with a weak debt reduction plan. S&P had no choice than to say it lost its confidence in the US policy-making ability.

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