Global Financialsystem News Today

hello, im sumi somaskanda. we start in washington tonight, where negotiators have been working to avoid a us debt default. negotiations have been described as �*productive�* — but theres still no deal. earlier, presidentjoe biden and speaker of the house kevin mccarthy led talks on raising the debt ceiling to ensure the us can continue to pay its bills. biden and republican congressional leaders now have just ten days to avoid a default. president biden said: wwe reiterated once ...

russia is preparing for a major ukrainian offensive, with vast defenses set up in key areas in the south of the country, including crimea. well have all the details from our new bbc verify team — its been investigating. also on the programme... we will bring you the latest updates on the search for madeleine mccann, who disappeared in southern portugal in 2007. police are to search around a reservoir near where the british three—year—old girl went missing. and well look at the po...

Default mean for the rest of the world? ., ., . ., .,, the world? it would mean chaos on the financial— the world? it would mean chaos on the financial markets. - the world? it would mean chaos on the financial markets. we . on the financial markets. we would see the beginnings of a global financial crisis. we would see massive reductions in the value of us equities, reductions in equities in other nations as well. we would see probably a flight to safety, at least a first where a bunch of dol...

Spending or their investments. and so thats why you get the snowball effect, the longer it goes on the worse it gets. but then, in addition to that, you also have to look at what it means if they cant pay back their debt on the us government bonds, on us treasuries. thats where it gets really messy, and i think where people talk about the global knock on effect of this being sizeable, because the whole world depends on us treasuries. its the linchpin, if you like, of the global financial system....