The Australian debt-ceiling debacle can be added to the recent list of blunders that Canberra has inflicted upon the national interest:
Treasurer Joe Hockey is receiving phone calls from ratings agencies and offshore investors worried about the looming federal debt limit.
As the government ramps up pressure on Labor and the Greens to raise the debt ceiling, which may be a “few days” away from being breached, Mr Hockey said on Monday that his office was now fielding calls about the issue.
“For the first time we have received phone calls now from international investors and rating agencies concerned about Australia possibly reaching [the cap],” the Treasurer told Parliament during question time.
…Local brokers, banks and financial market analysts say they in recent weeks been fielding a rising number of calls from worried overseas investors, who fear the issue could blow up in to the similar debacle that distracted global markets in October, when a US Congress standoff went to the 11th hour before being temporarily resolved.
The story reports as well that Treasury is within $4billion of the debt-ceiling.
