President Obama absent from debt talks

First came the Biden talks. When those blew up, the Obama-Boehner talks took center stage. And when that failed, the McConnell-Reid talks looked promising. And after they faltered, the Obama-Boehner talks tried to find a new life.

Now it’s all come down to the Boehner-Reid-Pelosi-McConnell talks to solve the debt crisis. Notably absent? The president.

Read more: http://www.politico.com/news/stories/0711/59737.html#ixzz1T2eiHIbq

EU approaches resolution as Aug 2 Deadline looms for US

The euro rallied against the dollar and rose from almost a record low versus the Swiss franc on bets European officials are approaching an agreement over measures designed to contain the region’s sovereign-debt crisis.

The 17-nation currency pared gains as Germany’s Chancellor Angela Merkel told reporters in Hanover that the debt crisis can’t be resolved “in one step.” Sweden’s krona and Australia’s dollar climbed amid renewed investor appetite for higher-yielding assets as Greek Finance Minister Evangelos Venizelos said a resolution of debt turmoil is attainable. The Canadian dollar rose after the central bank’s policy statement.

http://www.bloomberg.com/news/2011-07-19/euro-strengthens-as-greek-minister-says-agreement-on-debt-is-attainable-.html