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The agency's lawyers must now draft the plan to reflect compromises hashed out in recent days.
"This is an explicit trade-off," said a Republican who helped draft the plan.
But Mr. Micchelli, who served on a task force that helped draft the plan, added, "Whether it will solve the financial problems remains to be seen".
He said that all 27 European Union finance ministers would hold an emergency meeting on Sunday afternoon to draft the plan to quell gyrating markets ahead of Monday.
To ease the pain, the governor vacated the State House to write the executive order, meeting with a few close allies to draft the plan.
It is likely, state officials say, that Mr. Caswell will play an important role in whatever group is assembled to draft the plan expected from the governor's office 18 months after a final rule is published.
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Who drafted the plan before Congress?
America Online and other businesses on the commission drafted the plan.
The Long Island Regional Planning Board is drafting the plan, he wrote.
Top government health officials started drafting the plan in 1991.
Instead, without saying why, it admitted drafting the plan.
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