El notes

“In this country, this should never happen” – T. Geithner said in an interview with television channel ABC News in response to a question on whether the downgrading of U.S. real risk.

Recall that last week of that risk for America announced the agency Moody’s. T. Geithner defended the rankings, made a speech about its reliability.

Finance Minister recalled that global investors invest in U.S. securities and dollar-denominated assets when they question the stability of the global economy. Such actions, he said, show the inherent credibility of the United States and its ability to recover from recession.

The risk of a second outbreak of the crisis in the U.S. has declined, especially after the statistic data showed growth in U.S. gross domestic product by 5 7% in the fourth quarter of 2009, said T. Geithner.

“The risk is much, much lower than at any time in the last 12 months or so – said the minister. – The process of recovery” .

T. Geithner added that the tightening of financial regulation will not affect the competitiveness of U.S. banks in international markets.

“I am more than confident that we can achieve close cooperation to improve international standards in the world, to create equal competitive conditions for banks, “he said.

rating agency Moody’s warned earlier that the U.S. sovereign debt rating (” AAA “- the highest level of reliability) may come under pressure in the future if not taken additional measures to reduce the state budget deficit projected for the coming decade.

Moody’s is concerned that the ratio of public debt, the U.S. GDP and budget revenues have deteriorated sharply during the financial crisis and recession and, as expected by the agency, these indicators remain worse than in other countries rated “AAA”.

Recall that the U.S. president Barack Obama has sent to Congress a draft budget, which projected that the deficit results of fiscal year 2010 (ending September 30, 2010) will be a record $1.56 trillion. However, in 2011 fingodu planned to reduce the deficit to $1.27 trillion.

The U.S. Treasury Department will deploy this year, bonds and notes to a record $2.43 trillion, up 16% over last year ( also a record) in the $2.1 trillion.

In the past fiscal year, which ended Sept. 30, 2009, the U.S. budget deficit was $1.4 trillion (9.9% of GDP). In the current fiscal year, projected to be higher than 10% of GDP, which is unprecedented magnitude since the Second World War.

The administration previously had intended to cut the deficit to 3% of GDP in the coming years, but recent projections suggest that by the end of the decade the deficit will average 4.5% of GDP.

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