The United States and the European Union are negotiating a deal to resolve the debt crisis, a source familiar with the negotiations told The Next Green.
The European Commission, European Central Bank, the United States Treasury Department and European Union officials are expected to sign off on the deal in coming weeks, the source said.
The deal could be worth hundreds of billions of dollars, according to the source.
The agreement, which was first reported by The Wall Street Journal, would allow for a return to a “normal” debt repayment schedule, the sources said.
It is unclear whether the deal will result in an increase in the U.S. debt.
In February, Treasury Secretary Steven Mnuchin said that the U,S.
will be able to “pay down its debt” in a “very short period of time.”
The deal is expected to be announced during the World Economic Forum in Davos, Switzerland, this weekend.
The United States has had a $1.4 trillion debt problem since 2009, according the Congressional Budget Office.
That includes $3.1 trillion in outstanding debt and $2.8 trillion in future obligations.