The scenario of default by the U.S. also saw the European

To get an idea of how vulnerable the U.S. economy if the euro were to crack, let’s start talking about the volume of U.S. exports to the euro area, 153 billion dollars in the first six months of the year. To this we must add several hundred billion dollars in investment by U.S. banks to the euro area, and a value of several billion dollars in other financial contracts between the two economies.

While EU leaders meet this week to try to resolve the debt crisis and to prevent the breakup of the eurozone, the U.S. politicians, business leaders and financial analysts are watching anxiously.

The alternative would indeed be puzzling to the ‘U.S. economy. U.S. banks and other companies could find themselves dealing with a country that would leave all negotiations with the euro. Risk is a paralysis, of proportions not imagine.

The summit this week is the latest in a long series of meetings convened to address the problems in the eurozone, which started from Greece and are now a real threat to the European Union ‘. Even if the solution has not yet been found for two years now, European officials insist that they most likely will succeed in preventing the release of one or more countries.

But the steady erosion of confidence in the European leadership and the failure of previous plans makes it more difficult to believe in a final solution. Merkel and Sarkozy said they will push for far-reaching changes.

Analysts, meanwhile, are trying to set up different scenarios. An exit from Greece could probably be the thing that would allow the rest of the eurozone will not run into a global default. Banks, companies and private investors have in a sense this possibility prevented from divesting greek system, liquidating investments and selling Greek bonds. Reintroduce the old currency, the drachma, would make Greek exports and business investment more beneficial for everyone, giving the country the chance to go back.

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