Erosion of the World's trust in the sanity of US fiscal management

Bruegel's Nicolas Véron explains the consequences of the last few week's of government shutdown and debt ceiling debate in the United States. After having been berated by the Americans for a number of years over the dysfunction of European institutions, there is no schadenfreude, but definitely a temptation to say "*Look, Europe may be dysfunctional, but the US is even more so*.