The G7 had earlier not ruled out adopting another part of the British plan - to guarantee borrowing between banks - as they issued their plan in Washington.
Sticking to the plan meant borrowing more money -- and fast.
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One of the drawbacks of borrowing from your retirement plan is that the loan amount is no longer being invested in the portfolio of assets in your retirement account and, therefore, the opportunity for diversification using that amount is lost until the amount is returned to the plan.
Mr. Gaspar's plan is to begin borrowing now to cushion his country for the second half of 2014 when the bailout money runs out.
The White House has welcomed a Republican plan to suspend the US borrowing limit for almost four months.
Greece also unveiled a long-anticipated plan to tackle its own borrowing problems.
The First Minister is clear George Osborne's Plan A must now be scrapped in favour of a Plan B that involves some borrowing in order to spend on infrastructure projects.
The index reversed a drop of as much as 24 points amid news that House Republican leaders are considering a plan to extend the federal borrowing limit for three months.
The Lib Dem business secretary defended the coalition's target to cut the structural deficit by 2015, arguing that Labour's plan for more spending and borrowing was "fiscally irresponsible" and would undermine market confidence and cause interest rates to rise.
Last year it cut the city's borrowing limit, impeding Mr Cardenas's plan for a new metro line.
That would only expose a country to punitively high borrowing costs, triggering a crisis that this plan is designed to avoid.
Draghi verbally intervened markets and then unveiled an open ended bond-buying plan to support Spanish and Italian borrowing costs by pushing down yields.
But Mr Grayling said the opposition's plan would result in Britain "borrowing more money" which was not the right thing to do in the current economic climate.
This is how hard it is: Republican leaders cannot be sure of getting enough Republicans to vote for their own plan to cut the debt and raise borrowing.
The Fed has already expanded its balance sheet to epic proportions, while on Thursday ECB chief Mario Draghi announced a third bond buying plan that should help push down the borrowing costs of struggling peripheral nations, particularly Spain and Italy.
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Brussels, Dublin and Lisbon are well aware of these limitations and this week started laying out a plan on how to make returning to market borrowing smoother and less risky.
The receiver's financial team prepared "Plan D, " which essentially involved the city borrowing the money from itself.
But Mr Hollande will have to countenance reform all the same, because he needs a credible medium-term plan to pay for welfare spending without resorting to borrowing.
But as investors grow cynical that any one plan can be an ultimate backstop for the crisis, eurozone borrowing costs have continued to soar and stocks have continued to react negatively.
But today's market ructions are a reminder that some day fairly soon they will have to decide whether and how to give Portugal additional support, and come to terms with the reality that the government is unlikely to be able to go back to borrowing on the global financial markets in 2013, as its current rescue plan assumes.
They were included in a 2011 deal to raise the federal borrowing limit as an unacceptable outcome if Congress failed to agree on a comprehensive deficit reduction plan.
He added that some people were calling for more borrowing and others for more spending cuts, but the government had "got the right plan and we should stick to that plan".
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Borrowing against your retirement savings through a 401k for example, is different than tapping into a retirement plan, and taking distributions from the plan to pay for college.
Treasury officials are still, however, sceptical of Mr Prescott's leasing plan on the grounds that it involves no real transfer of risk to the private sector and breaks public borrowing rules.
Correspondents say the plan still faces some opposition from Republicans who had hoped to use a vote on the government's borrowing limit to introduce negotiations with the White House on federal spending cuts.
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