News Summary: IMF urges US to raise debt ceiling

(AP) - YOU'VE BEEN WARNED: The International Monetary Fund chief warned the United States on Thursday that failure to raise the debt ceiling could do deep damage to both the American and global economies.

THE BOSS: IMF chief Christine Lagarde, kicking off an annual meeting of global financial advisors, urged the U.S. to get its "fiscal house" in order, referring to the deadlock over passing spending bills and raising the debt limit. She said failure to do so would hurt both the U.S. economy and have a spillover effect on others.

YO EUROPE: She said the global economy is in a slow and unbalanced recovery and urged Europe to clean up its banking problems and forge ahead with a banking union.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Top Stories

  • Fatal Bike Crash
    A bicyclist was struck and killed Friday in the same area as Seattle's future bike lane

  • Typical Seattle
    17 things you will definitely see at Bumbershoot

  • Cassius' Body Art
    This Seahawks rookie might be the most colorful on the field
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.