*

Log In
Create Account

Article:

How the Fall of the Euro Will Affect Us All

If the Euro Hits the Skids, What Will That Mean for the United States?

Bad News for the U.S.

What would hurt the U.S., Quinn said, is if problems in countries like Greece or Spain "cause contagion and spread to other European countries that actually matter to us."

That could be the beginning of a chain reaction that leads directly to lost jobs in the United States.

Widespread economic troubles in Europe would cause investors to shrink away from the euro. Falling demand for the euro would lower its value while making the dollar relatively stronger. With their currency worth less, Europeans would buy fewer American products. And if demand for American products takes a hit, American companies need fewer employees.

"If there’s a panic and the euro zone starts dropping members and people start fleeing out of the euro and it plummets, that substantially harms our exports," Quinn said. "That is a real danger."

 

  • Sarah Shemkus

    Sarah Shemkus is an award-winning freelance journalist, marketing enthusiast, accomplished baker, occasional globetrotter and total nerd (with a particular fondness for spreadsheets). Most recently, she reported on business and real estate … Read more...