Markets to take first hit if US fails to reach deal on fiscal cliff crisis

By Georgia Wilkins
December 29 2012 - 3:00am
Risky business ... Saul Eslake, Australian economist with Bank of America Merrill Lynch, says a deal is unlikely to be struck.
Risky business ... Saul Eslake, Australian economist with Bank of America Merrill Lynch, says a deal is unlikely to be struck.

THE US falling off the so-called fiscal cliff would be the most serious jolt to the global economy since the financial crisis, and could be felt on Australian markets as early as Monday morning, economists say.

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