U.S. elections pave way for 'fiscal cliff' compromise- IMF's Lipton

LONDON Tue Nov 13, 2012 8:57am EST

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LONDON Nov 13 (Reuters) - The recent U.S. election results have paved the way for some compromise over the fiscal issues set to hit the country, the First Deputy Managing Director of the IMF David Lipton said on Tuesday.

"The election has now opened the way for some compromise on both sides of that debate," he told a seminar at the Houses of Parliament in London, referring to the so-called "fiscal cliff" of $600 billion of spending cuts and tax rises due to hit the U.S. economy at the start of 2013.

"But there's a lot of work to be done between now and early January."

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