Merkel presses US to push through bailout

German Chancellor Angela Merkel has called on the US to pass a financial bailout package this week. Merkel said Tuesday that the quick passage of a rescue package is "the precondition for creating new confidence on the markets - and that is of incredibly great significance." Merkel was speaking after the US House of Representatives' rejection Monday of a $700 billion plan to rescue ailing financial companies burdened with piles of bad mortgage-related debts.