Main cause of U.S. debt crisis is political, not economic: Italian economist

STORY: Main cause of U.S. debt crisis is political, not economic: Italian economist DATELINE: July 13, 2023 LENGTH: 00:02:01 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of Andrew Spannaus 2. SOUNDBITE 1 (English): ANDREW SPANNAUS, Lecturer of Catholic University of Milan 3. various of U.S. dollar and Euro 4. SOUNDBITE 2 (English): ANDREW SPANNAUS, Lecturer of Catholic University of Milan STORYLINE: The U.S. debt crises have exposed flaws in U.S. politics and fiscal policy, an Italian economist has said, warning governments and investors around the world to be alerted. Andrew Spannaus, lecturer of Catholic University of Milan, said the U.S. government bonds have long been considered as a safe asset, but investors' confidence has been affected by the repeated debt crises which erode the creditworthiness of the U.S. government and the value of dollar assets. SOUNDBITE 1 (English): ANDREW SPANNAUS, Lecturer of Catholic University of Milan "The biggest problem is for the bond markets because the mar