A top British finance minister says the world’s biggest economic threat is from “right-wing nutters” in Congress who would send the U.S. government into default.
Speaking to the BBC about the European rescue package for troubled Greece, U.K. Business Secretary Vince Cable said Washington’s political showdown over the debt ceiling threatens to overshadow financial troubles on the continent.
“The irony of the situation at the moment, with markets opening (Monday) morning, is that the biggest threat to the world financial system comes from a few right-wing nutters in the American congress rather than the euro zone,” Cable said on Sunday, Reuters reported.
Cable is the second-ranking member of the left-wing Liberal Democratic Party in Parliament. The Liberal Democrats joined Conservatives to form a coalition government after the 2010 British elections.
Cable drew controversy in December when he was caught on tape saying he was “declaring war” on News Corp. CEO Rupert Murdoch. Prime Minister David Cameron then stripped Cable of his authority to rule over the News Corp. takeover of satellite broadcaster BSkyB and forced him to apologize.
The Gazette now offers Facebook Comments on its stories. You must be logged into your Facebook account to add comments. If you do not want your comment to post to your personal page, uncheck the box below the comment. Comments deemed offensive by the moderators will be removed, and commenters who persist may be banned from commenting on the site.