The EU trade chief says the US Congress' decision will make people around the world even more anxious. Peter Mandelson says the US should live up to its special responsibility to solve the global financial crisis.
Peter Mandelson said, "We have to hope and assume that Congress looks to its responsibilities and exercises those in this context. If they don't people will look at the state of the financial system in the United States and say that markets seem to be in a free fall. Having made an attempt and then fail so far, people will assume that things can only get worse and that will produce a spiral, a downward spiral which could have some really bad consequences. Not of course only in the United States but as we can see in stock markets around the world."
(CCTV October 1, 2008)