Christine Lagarde Expresses “Huge Confidence” that US Will Not Default on Debt

Christine Lagarde, president of the European Central Bank, expressed her “huge confidence” that the US will not default on its debt during an interview on CBS’ “Face the Nation” Sunday. Lagarde noted that if a debt default did occur, it would have a “very, very negative impact” both in the US and around the world.

The US government is currently in a partisan standoff for negotiations to resolve the debt crisis. If Congress does not address the debt ceiling, the US could potentially face its first-ever default as early as this summer or as late as the fall.

During the interview, Lagarde discussed the global recovery and noted that the US is a major leader in economic growth around the world. She said that she understands the fragility of the recovery and that the US “cannot let that happen.”

Lagarde also said that she has “huge confidence” that the US will not allow the country to default on its own debt. She noted that if a debt default did happen, it would have a “very, very negative impact” both in the US and around the world.

The president of the European Central Bank concluded the interview by expressing her belief that the US will not let such a major disaster happen. She said that the US is a major leader in economic growth around the world and that it is important for the US to address the debt crisis in order to ensure a successful recovery.