Oct. 22 - UK Chancellor of the Exchequer George Osborne says U.S. politicians recognise the serious consequences of a default, and hopes that financial services aren’t excluded from any transatlantic trade deal.
In the light of what's happening in the United States what I call the pantomime of congress. Taking us to the brink and back to gain and probably take this -- the brink again next January because. They're crazy -- with getting your minds of those crazy. Right if they connect crazy did you discuss all would you discuss with the Chinese and G-7 what you can do. In case of America decides to do something else. -- -- -- -- I -- I have I have faith cannot Chinese aggression I have a lot of faith in the United States mark. Because I think it's a great country of the great democratic tradition and an incredibly dynamic on. And I if I went straight from Washington to China summit beyond -- meetings and I met speaker -- met Paul Ryan. And I met -- it. On capitol one after another and the one thing ill having -- -- them and they are coming out the issue for a few different places but the one thing a lot in common was -- -- away. Of the very very serious consequences for the world economy in the US economy. If that would Soviet people opening in that sense. Reason prevailed and -- that didn't go. The edge. In terms of the two people. Last week that's a good thing I'd take some encouragement from that they've got a very complicated than. Messy political season but that. -- that congress and that White House but that is you know witness the price you pay for vibrant democracy. You know something of a contrast to -- of them went -- Yeah I think can. I think we have to unite I think with the US economy I think yes of course what -- what the White House and congress it is very important. That -- also what's going on in the United States and I think just because British ministers that lead big trade delegations the United States does it have to. You shouldn't neglect the incredible innovation and growth in the US -- -- you -- -- getting on with the and it trade agreement the united states of Europe. What we have just signed it didn't get. Great headline news tonight especially because that's on the may be on Reuters that via. The Canadian that the Canadian free trade agreement signed in the last few days to -- you -- it was a real success. And I think that sat. Press -- the hopefully the transatlantic. -- do we do with the US a suspect. It will be it's going to be. A holiday challenge but but the goal that the you know the potential benefit street -- And I you know I would hope that time. Financial services on excluded. Transatlantic trade and investment opposite I think that if there is some. Is a bits of in the US some of the regulators -- -- skiing. And we -- of them. My American sense of regulations and that's it yeah I would say. It's in everyone's interest of -- -- regulations set in Europe's interest. What we don't want these Rick betrayal of the trust what we don't want his misunderstanding. Between regulators. Like we've had recently. We've had to resolve disputes at the regulation of derivatives for Israel. It I think you you had as part of the trade agreement. Some mechanism which required these regulators. On both sides Atlantic to talk to each other than that the world's two largest financial centers. I think would be better off. And and it would be better than having to -- -- the elevate the two speeds up to the Johnson -- heralding European Commission.