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US President Joe Biden and Republican House Speaker Kevin McCarthy have finally reached an agreement to raise the US debt ceiling and avert the risk of a US default. They both announced it yesterday, Sunday 28 May.
At this point, the ball passes to the United States Congress, which will have to vote to approve the agreement.
“Good news – Biden said last night from the White House – The agreement averts the worst possible crisis: a default, for the first time in our history”.