Japan welcomes US budget deal

The Japanese government welcomed on Monday the agreement made by the US Democratic and Republican parties on the budget deal which should prevent the US from defaulting on its loans. Japanese Chief Cabinet Secretary Yukio Edano said in a statement that he hopes the deal will aid stability in the financial market. US President Obama and Congressional leaders of both parties including John Boehner said late Sunday that they had agreed to a framework for a budget deal that would cut trillions of dollars in federal spending over the next ten years and clear the way for an increase in the government’s borrowing limit.