How shock waves will hit US if Greece drops euro

How shock waves will hit US if Greece drops euro


NEW YORK (AP) -- The unthinkable suddenly looks possible.

Bankers, governments and investors are preparing for Greece to stop using the euro as its currency, a move that could spread turmoil throughout the global financial system.

The worst case envisions governments defaulting on their debts, a run on European banks and a worldwide credit crunch reminiscent of the financial crisis in the fall of 2008.

A Greek election on Sunday will determine whether it happens. Syriza, a party opposed to the restrictions placed on Greece in exchange for a bailout from European neighbors, could do well.

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Never did understand the Euro. Some European countries have always been in better shape than others. Why combine all the currencies and let the weak countries drag down the stronger currency countries. Not picking on Greece lived there for 3 years and loved it but that was back in the drachma days. It is not like it is the United States of Europe, if that is what they were trying to do. Not sure of Englands economic status but they did not nibble on the Euro and kept the pound. But what do i know i am just a screwed Maryland tax payer.