He believes Congress can and will act, that there are measures -- that the measures he will put forward on Thursday should have and hopefully will have bipartisan support because of the urgency that members of Congress will feel returning from their recesses, having heard from their constituencies -- their constituents about the need to create jobs and grow the economy.

WHITEHOUSE: Press Briefing

Other measures put forward by Mr Bersani are less a matter of liberalisation and more about protecting consumers.

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"Agreement was reached on measures to meet all the objectives originally put forward by the FIA for 2010 and thereafter, " said the FIA in a statement.

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President Obama has put forward his American Jobs Act, a grab bag of temporary fiscal stimulus measures on both the tax and spending sides.

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