Soon after European leaders fashioned a bailout package for Greece last May, he warned that the country might not be able to repay its debts.
Eastern time, on a day marked by news of an agreement in Europe over a bailout package for Greece, the index briefly reached 13,000.64.
Mrs. Merkel, who faces an election on Sunday in Germany's most populous state, was among the most vociferous critics of a bailout package for Greece.
Congress and the administration continued to work today on a bailout package for the airline industry that could reach $17.5 billion.
The hearing came nearly a year after the State Legislature passed a bailout package for the city in an extremely rare override of one of Governor Pataki's vetoes.
[C6.] Markets Higher on Brazil Bailout Riding news of a bailout package for Brazil, the Dow Jones industrial average jumped 255.87 points, to 8,712.02.
Having cobbled together a bailout package for Greece and for a broader rescue fund, they did not expect such levels of fear and uncertainty — especially as European growth has done better than expected on the strength of Germany's strong performance.
The International Monetary Fund said on Wednesday that it would contribute €1 billion, or about 10 percent, of a bailout package for Cyprus but stipulated that the country would need to take tough measures to overhaul its beleaguered economy.
