Greek, European Woe Could Cause Problems For U.S.
Your 401(k) could sink again. A plummeting euro may make it harder for American companies to sell goods overseas. Credit could be tightened.
These are all potential complications of a European debt crisis that risks spiraling out of control. And in today’s interconnected global economy, Greece’s troubles could over time become a headache for all of Europe and by extension the rest of the world.
That includes President Barack Obama as he faces an already difficult re-election bid, and voters as well, from machine tool makers in Michigan to chemical plant workers on the Gulf coast.
Pensioners and home buyers also could be affected.
All this because Greece is at a crossroads, unable to form a government and decide whether it will continue with austerity or abandon its debts.
(Copyright 2012 by The Associated Press. All Rights Reserved.)