As was expected, the “fiscal cliff” issue was the driving force for markets over the previous week. When it became clear that negotiations between the White House and Republicans reached another deadlock, implementation of the “fiscal cliff” became quite likely.

At the moment, experts find it difficult to predict what steps policy-makers will take during the last days of 2012 in order to avoid the “fiscal cliff” scenario. At the same time, there are more and more arguments as to what will happen to the US economy, if the “cliff” does become a reality.

The leaving 2012 turned out to be more dramatic than expected. Global economy found itself almost on the brink of a disaster. It is possible to expect that the new 2013 will see a decline in the degree of uncertainty on markets. First of all, this will happen thanks to quantitative easing programs undertaken by Governments of western countries over 2012.

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