PM Lee Hsien Loong weighs in on US government shutdown
A few faint glimmers of hope have surfaced in the U.S. fiscal standoff, both in Congress and at the White House.
US President Barack Obama has said he would accept a short-term increase in the nation's borrowing authority to avoid a default.
But seven days into a government shutdown and only 10 days from a critical need to raise the nation's debt limit, nothing amounting to a breakthrough was in sight.
Weighing in on the US government shutdown is Singapore Prime Minister Lee Hsien Loong.
In an interview with CNN, Mr Lee said "the signal that the US is unable to get its act together" is a negative one.
Mr Lee said if the US hits its debt ceiling, it further shows that the US cannot solve its own problems.
He said that one lesson learnt from Lehman Brothers collapse a little more than five years ago, is that one should never be complacent.
Mr Lee added that the Singapore government would like to keep a calibrated stable approach towards managing Singapore's financial industry.
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