Monday, July 11, 2011

Barack Obama Says That A Debt Agreement Must Be Reached In Next 10 Days

Barack Obama spoke after he met with the negotiators on the payment of U.S. debt, reports the Agence France Press.

When asked by a journalist about whether it is possible to reach an agreement within ten days, the President said, "should" according to Agence France Press noted the White House.

The president met at 18:10 (22:10 GMT) in the boardroom of the executive residence with the main leader of the Congress, its Democratic allies who control the Senate and their Republican adversaries Tenma that the majority in the House, in order to make a progress report on the ongoing negotiations.
It is to find a compromise with Congress to increase the debt limit of the country. Parliament must vote on this measure before August 2 failing which the federal state can not borrow more money to finance its deficit, which will have "unpredictable consequences" in the markets and the global economy, according to the president.


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