1min snip

Fareed Zakaria GPS cover image

U.S. border crisis; Britain's plan to ban migrants on boats; how America’s debt ceiling crisis looks abroad; Syria back in Arab League

Fareed Zakaria GPS

NOTE

Ramifications of US Defaulting on Debt

If the US government defaults on its debt, US Treasuries will be downgraded, and the price will fall, leading to an increase in interest rates. This will have global ramifications as it is a major asset held by countries, banks and sovereign funds worldwide.

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