AFP
WASHINGTON (AFP) - Ratings agency Standard & Poor's warned Thursday that the fight over the US debt ceiling could exacerbate the global tensions arising from Europe's troubled economies.
S&P also reiterated that it could downgrade the US debt rating if politicians cannot reach a deal to raise the country's debt ceiling by August 2.
"We believe any additional stresses caused by a protracted standoff in the US would likely amplify already tense market conditions in Europe in light of significant fiscal imbalances in Greece, Portugal, and Ireland," the ratings agency said.
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