Boehner unveils plan to avert US default

Republicans in the US House of Representatives unveiled a plan yesterday that would avert a looming default, in a sign that lawmakers may end a standoff that has rattled markets and thrown the country’s future creditworthiness into question.

Ahead of a meeting with President Barack Obama, it was unclear whether Republicans would be willing to end a government shutdown that took effect on Oct 1 without concessions that would undermine the president’s signature healthcare law, a stance that precipitated the crisis.

Still, the offer to raise the debt ceiling is a significant shift for Republicans, who had hoped to extract concessions on spending and health care.