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MENAFN - Arab News - 10/11/2012

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(MENAFN - Arab News) Jordan's King Abdallah yesterday told US President Barack Obama that the Middle East's future "hinges on" resolving the Palestinian-Israeli conflict.

Congratulating Obama on his re-election, the ruler said in a letter to Obama: "Your re-election gives you a second important chance to achieve peace in the Middle East."

"The future of the Middle East hinges on finding a solution to the Palestinian-Israeli conflict," he said, adding: "Our joint efforts must continue to accomplish this objective. Brave action is needed to place our strategic region on the path of stability, security and prosperity."

Obama faced urgent economic challenges, a looming fiscal showdown and a divided Congress capable of blocking his signature legislative measures as he returned to the White House.

His most immediate concern is the "fiscal cliff" - a mix of tax increases and spending cuts - that could crush the US economic recovery if it kicks in at the start of next year.

House of Representatives Speaker John Boehner hinted at the possibility of a compromise if the president agreed to tax reform.

Boehner, who negotiated with Obama over a so-called "grand bargain" of spending cuts and new revenues in 2011, said he would accept new revenue-raising as part of a tax-reform deal.

Even before he flew from Chicago, Obama had phoned the House speaker to emphasize the need to reach a budget compromise when Congress returns next week.

Meanwhile, in a phone call, Custodian of the Two Holy Mosques King Abdullah discussed with the US president mutual relations and the developments in the region and the world.

 






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