Lat Am could create 'collective defense' in case of US default, Mujica

President of Uruguay José Mujica stated that it is “probable” that Latin American countries come together to “create a collective defense” to be able to face the impact of an eventual economic default in the United States.

“What will happen to the North American economy? To what point can the Republican’s political dispute cause a crisis across the whole world?” questioned the Uruguayan president in a local newspaper interview.

In an attempt to answer the questions he posed, Mujica mentioned that “what appears to not be globalised is the consciousness of those who make decisions that have a global impact.”

“It is probable the Latin America will try to do something collectively, a sort of communal defense,” Mujica said.