President Clinton is expected to be accused of perjury and other serious crimes in the long-awaited report by the independent counsel, Mr Ken Starr, due to be released today. The Dow Jones index plunged 250 points on Wall Street yesterday partly because of uncertainty over President Clinton's future.
The 435-page report will, according to sources cited by Associated Press and CNN, include a section in which Mr Starr will list the evidence for his charges that the President has committed perjury, obstructed justice, tampered with witnesses and abused power.
Mr Starr has told Congress already that the report has "substantial and credible information" of impeachable offences. But the report remained sealed yesterday under lock and key while Congressional leaders drafted a resolution authorising its release.
The resolution will be voted on later today, thus enabling the release. A decision will be taken later whether to release a further 2,000 pages of appendices and material in the 36 boxes delivered to Congress by Mr Starr to accompany his report. Mr Starr pointed out that some of the grand jury transcripts contained personal information which should probably remain confidential.
White House lawyers tried unsuccessfully last night to delay the publication of the report, arguing on Capitol Hill that the President should be given a chance to examine it before publication on the Internet. The President's personal lawyer, Mr David Kendall, said after the meeting that the report, which he had not seen, was a "collection of contentions, claims and allegations and we look forward to a chance to rebut them".
The White House will produce a "counter-report" to the Starr one as soon as possible. The Speaker, Mr Newt Gingrich, has offered to make the Congressional website which will carry the Starr report available for the White House rebuttal.
The President continued his series of meetings with Democrats, apologising for lying over his affair with the former White House intern, Ms Monica Lewinsky, and asking for forgiveness. He first met senior Democratic senators at the White House and later with his cabinet members, whom he had assured last January that there was no truth in the reports of an affair with Ms Lewinsky. In what was described later as an emotional hour-long meeting, Mr Clinton apologised to the cabinet members. The Energy Secretary, Mr Bill Richardson, told reporters it had been an extraordinary meeting. The President had a strong message for them - that they should press ahead with the business of the country.
Last night Mrs Hillary Clinton briefly embraced her husband after she introduced him at a gathering of the Democratic National Committee but she made no reference to his current difficulties. Earlier, her press secretary told reporters that Mrs Clinton had forgiven her husband for his infidelity.
This afternoon, President Clinton will be given the Paul O'Dwyer peace and justice award for his work on Northern Ireland. About 1,000 Irish-Americans have been invited to the ceremony, which will take place on the South Lawn of the White House. The President will talk about his recent visit to Ireland, north and south, but it remains to be seen if he will also take this occasion to express regret over his conduct with Ms Lewinsky and subsequent denial.