Australia cancels Quad summit after Biden decides not to attend
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The Quadruple Security Dialogue (Quad) leaders’ summit will not be held in Sydney on May 23-24 following US President Joe Biden’s decision not to attend due to the public debt situation. About it informed Australian Prime Minister Anthony Albanese on ABC News.
“Because it [вопрос с госдолгом] must be decided by June 1 – otherwise there will be quite serious consequences for the US economy that will affect the global economy – he, understandably, was forced to make this decision, ”he said.
All four leaders – Japanese Prime Minister Fumio Kishida, Indian Prime Minister Narendra Modi, Biden and Albaniz – are expected to meet on the sidelines of the G7 summit, which will be held in Japan from May 19 to 21.
On May 10, after meeting with Congress on raising the national debt ceiling, Biden declaredthat he may refuse to travel to the G7 summit if the situation with the US public debt is not resolved. Later, the White House reported that the trip of the American leader will take place.
On May 7, US Treasury Secretary Janet Yellen warned that the United States could face a default in early June if the country does not pass a bill to raise the national debt ceiling.
The House of Representatives (the lower house of the US Parliament) at the end of April approved a bill to raise the public debt limit, but with a significant tightening of budget policy, including a reduction in government spending. In the House of Representatives, the Republicans have a majority, in order for the law to pass further, it must be approved in the Senate, where Democrats predominate. The bill, announced by Republican Speaker of the House Kevin McCarthy, raises the ceiling by $1.5 trillion but cuts $4.5 trillion in spending. Democrats do not support the proposal.
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