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Greek Premier Visits Germany

Greek prime minister Antonis Samaras will visit Germany this week with hat in hand. Ahead of his meeting with Angela Merkel and other senior Germany officials, the core purpose of the meetings is already clear. Samaras needs more time, and…

By Douglas A. McIntyre
Published August 20, 2012, 7:07am ET · 1 min read

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Greek prime minister Antonis Samaras will visit Germany this week with hat in hand. Ahead of his meeting with Angela Merkel and other senior Germany officials, the core purpose of the meetings is already clear. Samaras needs more time, and perhaps more money, to fix his economy. It has lost 20% of its gross domestic product in five years, and Samaras along with his financial advisors reason that the drop will only worsen without government stimulus of some kind. That is in direct opposition with Germany’s desire to force austerity on governments that cannot raise money on reasonable terms because of, among other things, high debts and deficits. The New York Times reports:

But top German officials signaled that Greece could face opposition in its bid for concessions. Wolfgang Schäuble, the German finance minister, expressed reluctance to grant more aid to Greece.

“It is not responsible to throw money into a bottomless pit,” Mr. Schäuble said in Berlin on Saturday, Reuters reported. “We cannot create yet another new program.”

Douglas A. McIntyre

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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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