Australia

Australian Treasurer Slams Tea Party

Says "cranks and crazies" are a threat to the American economy

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SYDNEY: Australian Treasurer Wayne Swan on Friday attacked Tea Party supporters in the US Republican Party, saying "cranks and crazies" were a threat to the world's largest economy.

The Labor politician, who is also Australia's deputy prime minister, said markets were nervously watching hardline elements in Mitt Romney's Republican Party for signs they might block reasonable attempts to support growth.

"Let's be blunt and acknowledge that the biggest threat to the world's biggest economy are the cranks and crazies that have taken over a part of the Republican Party," he told a business breakfast in Sydney.