US Debt Crisis 'Plan C', Norway Massacre and Other News

By: EW News Desk Team   Date: 29 July 2011

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EW News Desk Team

Always on the look out for the latest news to monitor the state of the world economy.

EconomyWatch, News Desk Team

 

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29 July 2011

Democratic officials are cautiously optimistic that the outlines of a potential compromise – a “Plan C” – are emerging that could bridge the differences between plans pushed by House Speaker John Boehner, R-Ohio and Senate Majority Leader Harry Reid, D-Nev.

The officials said President Obama has spent the past couple of days quietly reaching out to leaders in both parties to try and start hammering out the details, though it's clear this is still only in the discussion phase and they are not close to a deal yet.

Senate Budget Chairman Kent Conrad, D-N.D., hinted at such a compromise earlier Thursday during an interview on Fox News.

“Let me just say behind the scenes there are discussions underway to find a way forward,” said Conrad. “To how would you harmonize what Leader Reid has come up with and Speaker Boehner has come up with and I'm increasingly of the view that we can do that. That’s good news.”

The focus of this round of talks is on what kind of "trigger" mechanism the debt ceiling legislation will have to guarantee that a new special committee of Congress actually follows up with real spending cuts later this year. And whether or not positive action by the committee will allow the president to get more leeway on another lift in the debt ceiling so there’s no repeat of the current debate early next year.

Read more on Fox News
 

Norway Massacre

Anders Behring Breivik has admitted to carrying out the attacks that ravaged Norway. Prior to Norway's top police official coming out, it had been largely speculated that Breivik had acted alone.

Breivik admitted to the massacre and originally told police that he acted alone in the attacks that he described as "gruesome but necessary." However, he later insisted that he had worked and been in contact with two other terror cells in Norway and numerous others worldwide.

 

Strauss-Kahn's Civil Suit

The hotel maid who accuses ex-IMF head Dominique Strauss-Kahn of attempted rape may file a civil suit if prosecutors do not press criminal charges, her lawyer says.

The Manhattan district attorney's office has publicly announced they had doubts about the credibility of Nafissatou Diallo's allegations.

Making her first public appearance, Ms Diallo spoke of the pain the case had caused her and her family.

Mr Strauss-Kahn has denied the charges.

"What she wants is justice and if the prosecutors are not going to bring this case to trial then we have to look for justice and what I look forward to is putting this case before a jury," Ms Diallo's lawyer, Kenneth Thompson told a news conference.

When pressed by journalists when he might launch this case, he said: "Soon. Soon is soon."

From BBC News


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