WASHINGTON — Democratic leader Harry Reid says Senate leaders have reached a bipartisan deal to avoid default and end the United States government shutdown, now in its 16th day.
Reid made the announcement at the start of the Senate session on Wednesday.
The deal would reopen the government through Jan. 15 and increase the nation’s borrowing authority through Feb. 7.
Reid thanked Republican leader Mitch McConnell for working out an agreement
WASHINGTON — — Senate leaders reached agreement Wednesday to avert a threatened Treasury default and reopen the government after a partial, 16-day shutdown, according to a Republican senator who also said the House might vote first on the plan to speed its approval.
Global stock markets rallied on Monday as investors welcomed news of a last-minute deal to raise the US debt ceiling and avoid a disastrous default of the world's biggest economy.But the dollar fell against the euro on fears that the US may still face a downgrade to its credit rating, traders said.London's benchmark FTSE 100 index soared 1.46 percent to 5,900.09 points in early afternoon trade, while Frankfurt's DAX 30 grew 0.68 percent to 7,207.44 points and in Paris the CAC 40 gained 0.80 percent to 3,700.66.