Economy, Default | featured news

France is ready to do whatever it takes to rescue Greece, the government said, and urged the debt-laden euro-zone member to swiftly implement the July 21 plan to prevent bankruptcy.

British and Japanese officials warned Sunday of disastrous consequences for the global economy if last-minute talks among lawmakers in Washington failed to agree on raising the U.S. borrowing limit and averting a debt default.

As the nation stood Friday on the edge of a historic default and markets sank amid grim economic news and the legislative chaos, President Obama called on both Democrats and Republicans to abandon their favored debt-ceiling plans and come together to find a last-minute deal.