Joseph Stiglitz has come out defending the fiscal positions of the U.S. and UK markets and striking at the possibility that they may default.
To the idea that the US or UK could default, Stiglitz said at a speech at the London School of Economics that it is, “so absurd, it’s another reflection of the absurdities in the financial markets.”
The Telegraph also reports that Stiglitz said that the U.S. ability to print money to pay off its debt made default even less likely.
Stiglitz also called for a second stimulus to provide certainty in global markets.
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