 Senators in the United States have agreed to extend the country's debt ceiling less than two weeks before it was due to be reached. These agreements over the ceiling, the limit on how much the government can borrow, are not new in U.S. politics. But the current route between Republicans and Democrats had caused jitters in the financial markets. There were fears that the U.S. would default on its national debt with catastrophic implications. However, Senate Majority Leader Chuck Schumer, a Democrat, said that lawmakers had reached a deal to extend the debt ceiling until early December. The announcement came after what Schumer's Republican counterpart Mitch McConnell said were negotiations in good faith that have continued through the night.