"Significant differences" stand in way of fiscal cliff deal: Reid

WASHINGTON Sun Dec 30, 2012 6:04pm EST

WASHINGTON (Reuters) - Senate Majority Leader Harry Reid said Democrats and Republicans need to resolve significant differences to reach a deal to averting the "fiscal cliff" of looming tax hikes and spending cuts.

"There are still significant differences between the two sides," Reid said on the Senate floor, adding that negotiations were continuing.

"There is still time left to reach an agreement and we intend to continue negotiations," he added.

(Reporting by David Lawder; editing by Christopher Wilson)


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.