Minister of Finance Bill English says the deal struck in the United States to increase that nation's debt ceiling and avoid a default is not the end of the matter.
Just hours ahead of a deadline, US President Barack Obama signed into law a bill that raises the $US14.3 trillion debt ceiling and sets in motion a plan to reduce US deficits over 10 years.
The Democratic-led Senate had approved the deal on a 74-26 bipartisan vote on Tuesday.
Bill English told Morning Report that the political debate leading up to the compromise deal is a symptom of a long-running problem that will produce recurring crises for the next decade.
"Both in Europe and the US there is large amounts of debt, it is still growing and the political pressures that go with trying to get on top of that, the market pressures that go with that, are going to keep causing uncertainty."
Mr English says New Zealand can be affected by having to borrow on unstable international markets and by trying to sell exports to countries with weak economies.
