Thursday, July 7, 2011

Exclusive: Treasury secretly weighs options to avert default

By Richard Cowan

WASHINGTON |
Thu Jul 7, 2011 7:26am EDT


WASHINGTON (Reuters) - A small team of Treasury officials is discussing options to stave off default if Congress fails to raise the country's borrowing limit by an August 2 deadline, sources familiar with the matter said on Wednesday.

Senior officials, including Treasury Secretary Timothy Geithner, have repeatedly said there are no contingency plans if lawmakers do not give the U.S.

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