U.S. President Barack Obama speaks about negotiations with Capitol Hill on the looming fiscal cliff in the Eisenhower Executive Office Building on the White House complex in Washington, December 31, 2012. REUTERS/Larry Downing (UNITED STATES - Tags: POLITICS BUSINESS)
The so-called "fiscal cliff" has been dominating news headlines in the US for weeks.
Across the pond, Europeans have been paying close attention and having similar, just as heated, debates about spending and taxes.
The World's Marco Werman gets the latest European view from London-based financial analyst Louise Cooper.