CLEARWATER (Florida) - MR JOHN McCain and Mr Barack Obama issued a joint statement on Wednesday urging lawmakers to cooperate and reach a US economic bailout agreement to avoid 'economic catastrophe'.

In a three-paragraph statement issued by Mr McCain, the Republican candidate for president and his Democratic rival Obama, the two said it was time for both parties to come together for the sake of the American people.

'This is a time to rise above politics for the good of the country,' it said. 'We cannot risk an economic catastrophe. Now is our chance to come together to prove that Washington is once again capable of leading this country.'

Mr Obama said in a statement he issued on his own that both he and Mr McCain agreed that the bailout must be passed without any other measures attached. -- REUTERS