Lawrence McDonald

Article by BBC News Greece faces “uncontrolled chaos” if it fails to agree austerity measures and defaults on its debts, Prime Minister Lucas Papademos has warned. He said ministers who disagreed with the spending cuts could not stay in the coalition government, hours after four ministers resigned over the proposals. Greek leaders are trying to [...]

Economic, political and market dates to watch from across Europe as governments and financial institutions deal with the ongoing European debt crisis. Courtesy of DC Tripwire  15th February:                   Spain to announce plans for restructuring banking sector 15th February:                   Portugal [...]

Article by BBC News The EU’s 27 leaders are discussing how to create jobs and growth amid calls to go beyond enforcing budget discipline. The EU has more than 23 million unemployed people and there are fears that wide-ranging budget cuts will harm enterprise and training. The eurozone crisis is dominating the EU summit in [...]

Article by Simon Kennedy, Bloomberg The International Monetary Fund is proposing to raise its lending capacity by $500 billion to insulate the global economy against any worsening of Europe’s debt crisis, according to a person familiar with the talks. The Washington-based lender currently has about $385 billion available to lend and wants to lift that to $885 [...]

‘A Colossal Failure of Common Sense,’ author Larry McDonald gives his outlook for the European markets. Watch the latest video at video.foxbusiness.com

Former Lehman Brothers V.P. Larry McDonald on the S&P downgrades in Europe and their impact on U.S. banks. Watch the latest video at video.foxbusiness.com

Courtesy of DC Tripwire Major Actions This Week: White House On Wednesday, President Obama and Vice President Biden hosted experts at the White House to focus on what can be done to encourage businesses to keep jobs and investment in the United States.   On Friday, the President announced a plan to merge the Commerce [...]

Article By CNBC.com and Reuters Standard & Poor’s has downgraded France’s credit rating, French TV reported Friday, while several other euro zone countries face the same fate later in the day, according to reports. Germany and the Netherlands aren’t among those facing a downgrade, a senior euro zone government source told Reuters. Another source confirmed [...]

Article By Jeff Black and Jana Randow, Bloomberg Germany may be on the brink of recession after the sovereign debt crisis caused the economy to contract in the final quarter of 2011. Europe’s largest economy shrank “roughly” 0.25 percent in the fourth quarter from the third, the Federal Statistics Office in Wiesbaden said today in an [...]

Article By Stephen Kirkland and Lynn Thomasson, Bloomberg Stocks rose, driving the MSCI All- Country World Index to a four-week high, while U.S. futures and commodities climbed on signs of increased manufacturing output. The dollar weakened and U.S. Treasuries fell. The MSCI gauge advanced 0.6 percent at 8:20 a.m. in New York, on course for the [...]