Greenspan: Another Fiscal Stalemate is "Perfectly Conceivable"

Says he is sympathetic to the views of the Tea Party, but thinks their approach was "undemocratic"

Former US Federal Reserve Chairman Alan Greenspan has said that a repeat of the crisis that brought the country close to default is "perfectly conceivable".

He told the BBC that he had not seen another situation in Washington where "compromise" seemed so far away.

Mr Greenspan confessed to sympathies with the aims of the Tea Party, the Republican faction that fought the government during debt ceiling talks.

But the former central banker said the movement's tactics were "undemocratic".