'This Week' Transcript: Timothy Geithner

WASHINGTON, July 24, 2011— -- AMANPOUR: This week, from grand bargain to mad scramble.

OBAMA: We have now run out of time.

BOEHNER: If the White House won't get serious, we will.

AMANPOUR: As default now looms, Congress and the president struggle to pick up the pieces, and our headliner prepares for the unthinkable.

GEITHNER: If Congress does not raise the debt limit, it would be catastrophic.

AMANPOUR: We ask Treasury Secretary Tim Geithner whether there's a plan to deal with the economic chaos of default. As the heat on the Hill rises, our roundtable weighs in.

And paradise lost. A lone wolf turns Norway into a nightmare. The latest on the Oslo massacre.

Plus, history in New York today, as hundreds of gays and lesbians tie the knot, and the mayor himself officiates at one of those weddings.

BLOOMBERG: It's a statement that New York is open to everyone and we value everybody's rights.

AMANPOUR: We talk to Michael Bloomberg about marriage, taxes, and Washington on the rocks.

ANNOUNCER: Live from the Newseum in Washington, "This Week" with Christiane Amanpour starts right now.

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AMANPOUR: Welcome to the program. And there is lots to get to today, but first, some news since your morning papers.

It's a day of remembrance in Norway, a country that's reeling from Friday's bombing and shooting massacre that killed 93 people. This morning in Oslo, a memorial service of sorrow and hope. The king and queen are there, as is Norway's prime minister, who declared that we will never give up our values. Our answer is more democracy, more openness, more humanity.

ABC's Miguel Marquez joins us with more of what's been described as the first massive attack by somebody who's described as a Christian extremist amid fears that it could become a rallying cry for the right-wing fringe in Europe.

Miguel?

MARQUEZ: Christiane, we are learning much more about the self-confessed shooter, Anders Behring Breivik. Hours before he went on his rampage, he posted a video and 1,500-page manifesto online. It's a racist, anti-Islamic screed urging European conservatives to embrace martyrdom.

We are also hearing some incredible survivor stories. Adrian Pracon was shot in the shoulder, but lived because he played dead.

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PRACON: I could hear his breathing. I could also feel his boots very near me. And I could feel the warmth from the barrel when he pulled the trigger.

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MARQUEZ: Today is a mournful day across the entire country. There wasn't a dry eye at the cathedral in Oslo, as leaders and citizens gathered in a service of sorrow and hope. Tomorrow, Breivik will be in court. He has called his actions "gruesome, but necessary." His lawyer says he'll explain himself tomorrow.

Christiane?

AMANPOUR: Miguel Marquez in Norway.

And we turn now to the debt talks here in Washington, where congressional leaders are racing against the clock to try to show some sign of progress in the debt talks before the Asian markets open just a few hours from now. ABC's senior political correspondent Jonathan Karl has been following the talks.

And, Jonathan, where do things stand right now?

KARL: Well, leaders in both parties are determined to have the agreement or at least the framework of an agreement done by 4 o'clock this afternoon before those Asian markets open. The fear is that if there is no at least framework for an agreement, then it will be a market downturn, possibly a severe one, as markets around the world react to this.