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More Talk Of Larger EU Firewall

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By Douglas A. McIntyre Published
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The concern of EU governments about the fates of Italy and Spain was evident as the region appears ready to increase its emergency funding facilities to 940 billion euros. Spain and Italy are not the most immediate concern, however. Portugal, in a deep recession, and almost out of austerity cuts, may soon go the way of Greece as its deficit and debt become overwhelming.

Spain and Italy continue to argue that they are healthy. But, Spain’s unemployment rate is over 20%. Its housing markets, state governments, and banks are tattered. Austerity measures in Spain have been met by mass union protests which threaten to undermine GDP significantly.

Italy’s problem’s may be a bit farther off, but they exist nonetheless. It has begun to set a series of austerity measures. Its economy is not shrinking as fast as thsoe of smaller nations in the region, but it will probably be in a recession for most of 2012

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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