Now France and Germany are apparently lobbying for a debt extension, though the ECB is not convinced this is a good idea.
And Congress will have to vote yet again on a debt limit extension.
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How then do conservatives negotiate the coming debt ceiling extension, especially when they control neither the White House nor the Senate?
With no debt limit extension, Treasury simply could not borrow that money.
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When Treasury Secretary Tim Geithner proposed a permanent debt ceiling extension during the last round of negotiations, McConnell reportedly laughed in his face.
The bill, which would grant a three-month debt limit extension, also includes a measure to push Congress to pass a federal budget by 15 April.
The debt limit extension comes one day after figures showed the US economy unexpectedly shrank at an annualised rate of 0.1% in the last three months of 2012.
Those in the used-car market are advised to hit the lots sooner rather than later, as NADA expects prices to be softer in the first half of the year as consumers and businesses react to the expiration of the payroll tax reduction and the ongoing political wrangling over the debt ceiling extension and the federal budget sequester.
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Rep. Steve Scalise of Louisiana, who heads the Republican Study Committee, a group of fiscal conservatives, was part of the group Boehner tapped, along with Ryan, to devise the three-month debt-ceiling extension.
Mr Obama had asked for an extension of debt ceiling as part of the fiscal cliff negotiations, and correspondents say the issue is the next hurdle between Congress and the president.
Bonds sold off from the start of trading, and the selling accelerated after Moody's Investors Service said that the U.S. sovereign-debt could be negatively affected by the extension of tax cuts and if the government can't get its growing debt under control.
What the McConnell bill does is allow for the extension of the debt ceiling into 2013.
Clearly, we support extension of the debt ceiling without drama or delay.
Discussions are still centered on the extension of the debt limit rather than rebalancing the roles of markets and government in the economy.
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First of all, a six-month extension of the debt ceiling might not be enough to avoid a credit downgrade and the higher interest rates that all Americans would have to pay as a result.
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Late Sunday night, the game of chicken had shifted to whether a short-term extension of the debt ceiling -- which Obama had previously ruled out in an attempt to get the parties to focus on a long-term plan -- would be passed.
By extension, just as every debt is a liability for the borrower, it is an asset for the creditor.
Less clear, however, is whether the extension of Uruguay's debt maturity will be enough to solve the country's debt problems.
With the extension of the Mortgage Forgiveness Debt Relief Act, the short sale surge is likely to continue in 2013.
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Following the Greeks' unenthusiastic backing for the conservative New Democracy Party to form a new government, the noises from New Democracy is that it wants an extra two years to implement spending cuts and tax rises - the austerity programme - whereas the German government may be prepared to offer an extension of the repayment date on Greece's vast debt.
Jarvis has breached debt covenants and had until the end of the week to agree a credit extension with its banks.
Athens continues to negotiate with the Troika to get a 2-year extension for its deficit targets, but reports surfaced indicating Troika estimates for Greek debt-to-GDP were raised to 179.7% in this year and 181.3% in 2013.
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