10/12/2012
Fiscal Cliff" Threatens U.S. Supremacy: Lagarde"
Obama ready to work with Republicans to avoid crisis
IMF chief Christine Lagarde said Friday the looming "fiscal cliff" in the United States threatens the country's international supremacy and the fragile global recovery.
Lagarde said in an interview with BBC World News that "The US has an economic leadership in the world, [the dollar is] an international reserve currency, and a safe haven.
"To protect that, to make sure that leadership endures, this uncertainty has to be removed, because uncertainty fuels doubt as to that leadership."
The administration of President Barack Obama and the Republican majority in the House of Representatives are locked in arduous negotiations to reach an agreement on debt before the end of the year.
