U S PRESIDENT WARNS OF DEFAULT DANGER IN SHUTDOWN CRISIS

   U S President Barack Obama has warned that Wall Street should be concerned that a conservative faction of republicants are willing to allow the country to default on it's debt.
   The U S Government was partially closed after congress failed to agree a budget and will run out of cash on 17 October unless it's debt ceiling is raised. On both issues, the republicans who control the House of representative have demanded concessions from the President and his fellow democrats in return for funding the Government's continued operation and for raising the debt ceiling.
   The republicans demand the repeal, delay or defunding of a healthcare reform law dubbed " Obamacare" passed by the democrats in 2010. Major portions of that law, which was subsequently validated by the Supreme Court and was a major issue in the 2012 Presidential elections, took affect on Tuesday .