Forex Flash: US fiscal crisis more distressing in some ways – Merrill Lynch

Forex Flash: US fiscal crisis more distressing in some ways â€" Merrill Lynch

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Forex Flash: US fiscal crisis more distressing in some ways Merrill Lynch

FITITOL--> FXstreet.com (Barcelona) - Although the Eurozone fiscal crisis is the most infamous and complex as its decision process requires 17 countries, each with multiple political parties, Merrill Lynch analysts see the political contrast (two major parties) and relatively low market pressure in the US and find a better environment to solve its problems.

Unlike the crisis in the EMU, the US doesn’t need to rewrite its Constitution, but only real bipartisan cooperation: “There is a road map for fiscal consolidation: the Simpson Bowles plan, with all parts of the budget in the table and with austerity linked to the health of the economy. And, there is a very recent historic example: the bipartisan fiscal consolidation over the 1983-2000 period”, wrote analyst Ethan S. Harris.