As Washington struggles to find compromise on its way to a debt ceiling deal, international leaders have spoken out on the U.S. debt situation and the effects it may have on the global economy.
Though for the most part careful not to wade into the partisan politics of the U.S. debate, leaders from the world's largest economies have stressed the importance of raising the debt ceiling and avoiding any chance of a U.S. default.
Secretary of State Hillary Clinton has sought to reassure the international community that Congress will act responsibly by raising the debt ceiling. Former Secretary of State Madeline Albright spoke to The Huffington Post about the direct connection between the debt ceiling debate and America's image overseas.
HuffPost's Josh Hersh reports:
The ongoing political circus over raising the debt ceiling is undermining America's position as a "moral example" for the rest of the world, former Secretary of State Madeleine Albright told The Huffington Post.
"It looks very strange that we can't deal with this," Albright said in an interview. "It weakens our position as a moral example to the rest of the world."
Check out HuffPost's debt ceiling live blog.
Below, a slideshow of world leaders' comments on the U.S. debt ceiling debate.
While many foreign leaders have avoided commenting directly on the politics of the U.S. debit ceiling debate, U.K. Business Secretary Vince Cable spoke bluntly to the BBC about the partisan divide in Congress: "The irony of the situation at the moment ... 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."
Taking an optimistic stance on the prospects for debt ceiling deal in the U.S., Brazilian Finance Minister Guido Mantega told Dow Jones, "I believe they will find a solution," before going on to say, "I don't believe there will be a U.S. default or anything like it."
Like many world leaders, Canadian Finance Minister Jim Flaherty has highlighted the potential impact of a U.S. default on the international economy saying, "I'm a finance minister. I don't like shocks. I don't like brinkmanship anywhere in the world when we are dealing with financial issues," in a June speech in New York City. "The United States," Flaherty went on to say," is of course, the world's largest economy, [but] the health of Canada's economy -- and of the world's, for that matter -- depends greatly on the fiscal decisions being made in this country."
Chinese Vice Finance Minister Zhu Guangyao has highlighted his country's interest in the U.S. debt ceiling debate, saying, "We are paying close attention to the domestic discussion in the U.S. on debt and deficits. We hope the U.S. can take effective measures toward fiscal reorganization just as President Obama suggested."
Japanese Finance Minister Yoshihiko Noda has been tight-lipped so far on the U.S. debt ceiling debate, saying only that he "will be watching the situation."
Newly-appointed IMF Chief Christine Lagarde offered the following comment on the potential consequences of a U.S. default in a July interview with ABC. "If you draw out the entire scenario of default, yes, of course, you have all of that -- interest hikes, stock markets taking a huge hit and real nasty consequences, not just for the United States, but for the entire global economy, because the U.S. is such a big player and matters so much for other countries."