Sunday, May 20, 2012

Europe:  A Greek Exit's Impact on the U.S.

... the [U.S.] domestic economy remains vulnerable to disruptions in Europe. Roughly one-quarter of American exports go to Europe, and Americans held $1.4 trillion in the securities of euro zone companies and countries at the end of 2010, according to the most recent available federal data.

"If there is a major financial problem in Europe," Mr. Bernanke told Congress in February, "there will be so many different channels on which that will affect our financial system that I would not want to take too much comfort from" the fact that the financial system has little direct exposure to Greece.

For more, see A Greek Exit? Euro Zone May Be Ready by Binyamin Appelbaum, May 17, 2012 at NYTimes.com.

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