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Bush has expressed confidence that Congress will pass his administration's proposed 700-billion-dollar plan to bail out the financial markets. Speaking to reporters at the White House, Bush said that while lawmakers continued to differ on the details of the rescue package, all agreed on the need to get a deal done quickly. Congressional leaders have said that they were willing to work through the weekend in order to hammer out a compromise. The European Central Bank, the Bank of England and the Swiss National Bank have responded to the credit crunch by pumping an additional 74 billion dollars into the troubled markets. Meanwhile there it's still not clear whether the first televised debate between presidential contenders Barack Obama and John McCain will go ahead as scheduled this Friday. McCain says he is reluctant to take part before a deal is reached on the bailout.
(Deutsche Welle)
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