WASHINGTON, - President Barack Obama told business leaders on Wednesday that a "fiscal cliff" deal was possible within about a week if Republicans acknowledged the need to raise taxes on the wealthiest Americans.

Obama, speaking to the Business Roundtable group of chief executives, warned congressional Republicans against following a strategy of threatening not to raise the debt ceiling in order to get concessions from the White House.

"I will not play that game," he said.

Obama also said the global economy was soft and Europe would be "in the doldrums for quite some time."

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