Threat of a default of the USA: world economy in disturbing expectation

On July, 19th, Minsk/belta - ITAR-TASS/. Seeming several months ago impossible event - the default of the United States on the debts - is considered now by the world market as one of variants of the further course of affairs in world economy. Threat of loss of the USA to solvency was created as a result of achievement by them in the middle of the past May a marginal level of the state debt confirmed by the Congress, - $14,294 bln.

While the Ministry of Finance manages to be kept in this sum at the expense of clearings of short-term promissory notes. However, as Minister of Finance Timoti Gajtner declared, after August, 2nd of current year all additional possibilities will be settled also the country it will appear in the conditions of a default.
To avoid it, the Congress should make the special decision and increase the limiting size of a state debt. If it doesn't happen that in two weeks the American government can't carry out to the full of all financial obligations any more, including and debt service. At it money for a covering of growing expenses will simply end in necessary quantity.

In the end of the past spring Barack Obama's Presidential Administration and the Congress have started consultations of increase in the size of a state debt of the USA. To spend similar reductions in the conditions of coming nearer presidential election is a variant unacceptable for Barack Obama as they will seriously undermine its chances to remain and after November, 2012 in the Oval office of the White house for the second term.

Barack Obama carelessly named one of these days a possible default "Armageddon". These words of head of the White house have radically changed an estimation the business world of a developing situation. As the London newspaper "Tajms" hasn'ted, for the first time in a post-war history possibility of a default of Washington under the obligations has risen in the agenda of world business.

That fact that now the world markets don't exclude a default of the USA, has caused the past days powerful increase in demand at gold when the price тройской ounces left at the New York gold stock exchange on level of $1607.

As it became known, the administration of the USA in an emergency order prepares a spare variant, the so-called plan In, on an absence case for August, 2nd of the decision of the Congress about increase in a marginal level of a state debt. According to the information available in business circles, its problem - not to admit a default even in absence at the government of enough of money.
It consists in giving to the US president special powers on increase in a debt ceiling at $2,5 bln. till the end of 2012. However in this case Barack Obama will be compelled to incur all responsibility for debts increase as the head of the state. One more of variants - to collect forward taxes from the largest American corporations and banks.

Leading independent experts agree in opinion that absence of the decision on increase in the limiting size of a state debt of the USA by August, 2nd will lead to a storm in the world markets and will cause recession of the American economy. "Events threaten to develop under the crisis scenario", - warns in turn TV channel of the business information "Blumberg".

As experts mark, the present problem of the state debts of the USA became in many respects an event consequence in 2008 of global financial crisis. Arisen in the USA, it has put all world financial and bank system on a crash side. In this sense present threat of a default of the USA is only one of sides of display of this crisis.

Anyway the increase in a limiting limit at the size of a state debt of the USA though won't admit a default, however will lead to the further aggravation of a problem of the state debts of Washington. Thus, ahead of the USA hard times wait very much.