a default could have on us and global economies. so how did washington get here and what would happen if the borrowing ceiling is not lifted? my colleague samira hussain has been investigating. first of all, this debt ceiling crisis is actually a political crisis. itjust happens to hinge on a must pass piece of legislation to save the nation from economic catastrophe. so, what exactly is happening here? weeks to go before the federal government is unable to pay its bills. well, the us government spend more money that it brings in. so it needs to borrow money to pay its bills. it can only borrow a certain amount of money. and if it needs to borrow more, congress has to prove that. it used to be a routine thing, but not any more. republicans see this as an opportunity to extract demands, like cuts to affordable housing or other social security spending. but us presidentjoe biden says, no way. you need to pass this legislation with no strings attached. so off to the white
warning over the country s debt ceiling. this is the amount of money the us government is allowed to borrow to pay for pretty much everything they do. without an agreement to increase what the federal government can borrow, it could run out of money by earlyjune. at that point the federal government might not be able to make wage, welfare and other payments. our north america business correspondent michelle fleury is live in new york for us. we have been here before but once again, a stark warning that if nothing is done, it causes huge repercussions around the world. this is because as repercussions around the world. ti 3 is because as you say it is going to affect the jobs of government employees in the united states and have a knock on effect on the border economy, but then there is beyond the shores of the united states, the kind of ricochets it will have around the global financial system and that is why you have had this increasing drumbeat as we get closer to the kin
trigger a constitutional crisis. president biden is asked for the ceiling to be raised with no strings attached, something the republicans have been unwilling to budge on. time is ticking. secretary yellen has estimated the government could run out of money to pay its bills next month. it money to pay its bills next month. , ., , , money to pay its bills next month. , ., ,, .,, money to pay its bills next month. , ., ,, , month. it is congress was my “ob to month. it is congress was my job to do month. it is congress was my job to do this. month. it is congress was my job to do this. if month. it is congress was my job to do this. if they - month. it is congress was my job to do this. if they fail - month. it is congress was my job to do this. if they fail to l job to do this. if they fail to do it we will have an economic and financial catastrophe that will be of our own making and there is no action that president biden and the us treasury can it take to prevent that
told the bbc his country will not be totally free as long as king charles iii remains head of state. dr terrance drew said he would welcome an apology from the monarchy for its historic role in the slave trade. there are 1a commonwealth realms or countries where the king remains head of state. eight are in the caribbean, where questions linger over the crown s role in the slave trade, and whether or not to become republics. our correspondent celestina olulode reports. the shifting tides of constitutional change. this tiny island is reconsidering its relationship with the crown. the prime minister of st kitts and nevis says he wants to give people a say on who their head of state should be. the head of state still resides in the monarchy of england. and so that aspect of it is telling us that we are not totally free yet. that consultation or discussion will start sometime during my leadership. the prime minister is also calling for an apology for the monarchy s historic rol
for this year s song contest. here in the uk it s been an historic coronation weekend starting with the pomp and pagentry then street parties and a night of music to round off the celebrations. at last night s coronation concert at winsdor, a crowd of 20,000 people saw performances from stars including katy perry and take that. the prince of wales paid tribute to his pa king charles, saying the late queen elizabeth ii would be a proud mother . well, as we ve just seen, the uk s flair for pomp and ceremony has been on full display this coronation weekend. but will all that splendour be a benefit or burden to the uk economy? joining me now is independent economist julianjessop. how much the coronation will cost the taxpayer? there are two ways of looking at this. the first is the cost of the celebrations themselves. that might be of the order of the cost to the taxpayer but that part for more than pay for its because of the additional spending in sectors like hospitality