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Italian PM Letta congratulates Obama on budget deal, says it's important for market stability
Reported by: Associated Press
Reported: Thursday, October 17, 2013 1:16 PM EDT
President Barack Obama is getting some encouragement from a world leader who is no stranger to economic crisis.
The shutdown took effect when Obama and Congress couldn't agree on spending levels. Lawmakers also had threatened to send the country into economic default.
But an agreement passed late Wednesday by Congress and signed by Obama reopened the government through mid-January and pushed the default deadline into February.
Italy's economy is in dire straits, and Letta is trying to turn it around.
Letta says he congratulated Obama on "yesterday's success" and says it is very important for the stability of world markets.