[HIGHLIGHTS] The ceiling of the American debt. Yellen hopes to find a solution to the crisis and the world awaits

U.S. Treasury Secretary Janet Yellen says raising the debt ceiling is "more difficult" than before.

She says she hopes a solution can be found to prevent the first default in U.S.'s history. British Finance Minister Jeremy Hunt says it would be "devastating" if no deal is reached. Yellen said it was a positive sign that "almost everyone" agreed it was unacceptable for the U.N. to raise the debt limit to pay for pre-approved spending.