IMF Chief: Failure to raise U.S. debt ceiling would be “catastrophic” (1:27) 

Christine Lagarde, managing director of the IMF, says the global economy risks “catastrophic” consequences if the U.S. fails to raise its debt ceiling. Lagarde tells Thomson Reuters Consumer News Editor Chrystia Freeland she’s certain “serious people” in Washington would never let the U.S. fail to make payments that the country owes. (January 17, 2013)