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he was supposed to go to den mark for a conference, he int instead participated virtually. all of these fast-moving developments coming out of russia. u.s. officials were caught offguard with the speed with which this unfolded friday and escalated into today. of course this further these further developments causing even greater whiplash. we are told that u.s. intelligence actually did see signs that prigozhin was perhaps preparing some kind of significant challenge to russia s military leadership. and actually intelligence officials briefed congressional leadership earlier this week on the potential that prigozhin could make some kind of a dramatic move. now it wasn t clear when that would happen or what the ultimate aim of that would actually be. would he try to march toward moscow, would he try to pose a challenge to the russian president directly, or would this simply be a confrontation with russian military leadership. they didn t know, but what they did see were signs that
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for the country to run into problems. so would you say this is a uniquely american problem? i think it s a uniquely american problem that you have a political system with the different branches of government basically one of the few ways in which proper fiscal policy can be conducted. and by fiscal policy i mean the sort of forward looking multi-year agreements about government spending can be struck is when you have a gun to lawmakers s heads in the form of a debt ceiling. in most other country or certainly any other country and certainly denmark, this is done on annual base, you reach a fiscal agreement on annual budget and you move on. the problem is the political leverage that appears to be necessary to have bipartisan
fiscal discussions between congress and the white house. now, just for the purposes of our conversation and for perspective, what would the consequences be if denmark were to bounce its checks compare to if the u.s. breaches the debt ceiling? well, i don t think there would be that big a difference outside of denmark. there d be a few, you know, investors that invested in danish government bonds outside the country that would obviously suffer losses, but the danish currency is not widely used around the world, so it would be a situation totally unlike that of the united states where obviously a default because of the role of the dollar and the role of u.s. government securities around the world would have a cataclysmic effect not just in the united states but almost certainly in the global economy. now, obviously it s very difficult to compare the united states and denmark. i mean these are such vastly different countries, but is
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