federal government can t impose limits. instead the full credit of the u.s. debt my knee maintained. and the debt ceiling puts those two things intention. it puts if you can no longer issue debt to pay obligations, pay the bills congresses are decided you need, pain then you can no longer follow that first directive. but then you also, if you decide not to follow that directive, run into the second directive of defaulting on the debt. which to me suggest two things. either, a, the president just has to do something unconstitutional, one way or another. or, be, maybe karsten had the authority to pass that kind of law on the first place. congress does not have the authority to bind the executive in this way and prevent them from filling out. it s a clear constitutional duty here. it s not ambiguous what the constitution demands the president do with regards to the money congress appropriates. so, i don t think this is going
as the region heading for recession? that is certainly the fair out there and later today brussels officials are expected to slash the forecast of economic growth this year, and next across the 19 euros countries that share the euro currency. concerns about soaring inflation and a looming energy crisis pushed euro to parity with the us dollar for the first time in two decades. karstenjoins us now the first time in two decades. karsten joins us now global head of macro research at img in frankfurt. from your perspective, we seem to have lost your visual, no we have got you back. as europe on the brink of recession? got you back. as europe on the brink of recession? yes, europe is at the brink brink of recession? yes, europe is at the brink of brink of recession? yes, europe is at the brink of recession, - is at the brink of recession, and i think we are looking into and i think we are looking into a winter recession, that is what the european union commission forecast is telling us.
this vote, then we could also get more attention in financial markets. the prime minister has bought stability for the country in financial markets, if we went into new elections we could possibly see a small euro crisis widening to spread to europe in coming months. thank you for your perspective. next spring and craig earle and senior analyst. next spring and craig earle and senioranalyst. parity, next spring and craig earle and senior analyst. parity, the eurodollar it was a big moment, and listening to what karsten was saying you can understand by the euro is weak? you was saying you can understand by the euro is weak? by the euro is weak? you can there is one by the euro is weak? you can there is one thing by the euro is weak? you can i there is one thing contrasting at the moment between europe and the us, that is the us as hiking rates recently but has a very resilient economy and a strong labour market, it seems that resilience is what is holding the dollar together.