They are to continue talks on a new debt target for Greece, which has been a stumbling block for the release of the next 44 billion euros for the debt-strapped nation.

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International creditors are said to be examining the possibility of Greece extending repayments by ten years, as well as accelerating the release of emergency funds to finance a debt buyback.

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The Fed conducts incremental unconventional monetary policy via purchasing of debt, while the President can release government-controlled barrels of oil onto the market.

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The press release accompanying the report suggested that the continued tensions over sovereign debt "constitute a key risk to the outlook, with possible large regional and global implications, " and that "market participants remain unconvinced that a sustainable solution is at hand".

BBC: A fork in the road for the euro?

It was a release valve that allowed the parties to reach a deal on the debt limit in the summer of 2011 to avoid sending the nation into default, with the understanding that a broader agreement on the debt and deficit would be reached.

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In the meantime, the U.S. Department of Education is set to release "gainful employment" data as soon as this coming week, including loan-repayment rates and debt-to-income ratios.

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