What will happen to US if greece decides to exit the euro?

www.marketwatch.com...

NEW YORK (MarketWatch) -- U.S. stocks tumbled on Wednesday, echoing a slide in equities around the globe, on intensifying concern Greece could exit the euro and as the region’s leaders gathered.

How will our economy will be affected if Greece exit the euro? So far I see he stock market is going back down, what else can be affected?

Your Banks will be affected. And in turn,every part of the already terrible economy. Alot of the Greek National debt is from taxpayer-backed bonds that were sold. When the Greek Banks tanked,the Greek taxpayer had to foot the bill. The US Banks are invested in this debt. That is why the IMF is trying so hard to break the Greeks into accepting Austerity. If the Greeks wont pay your Banks it will hurt them bad. they may need another bail out. but you cant afford that.

I think Greece leaving would show a lack of confidence in the euro, and that would only help the dollar. Even if she is somewhat unstable (which I think is more rhetoric than fact, so far. But I'm hardly an economics major.) the dollar is still a strong and world accepted currency at a decent enough trade rate, the chinese are out to collect as many trillion of them as possible. Until europe stabilizes from the mess it's in, investors will run to the dollar in droves.

So, though the fall of Greece has spelled doom for some about the american economy, I think they might have it backwards. If America would take this golden opportunity to pull out of some risky business ventures, like wars and bases over seas that don't sacrifice trade route or the safety of the population, we could use that coin to stabilize and reinforce our own currency, and thus, guarantee the strength of the dollar for decades to come.

But that could all be hogwash, and just my hopeful two cents. Which, if things continue down hill for the whole globe economically, will be worth more in copper scrap than anything.

Originally posted by Germanicus
Your Banks will be affected. And in turn,every part of the already terrible economy. Alot of the Greek National debt is from taxpayer-backed bonds that were sold. When the Greek Banks tanked,the Greek taxpayer had to foot the bill. The US Banks are invested in this debt. That is why the IMF is trying so hard to break the Greeks into accepting Austerity. If the Greeks wont pay your Banks it will hurt them bad. they may need another bail out. but you cant afford that.

Intresting, lets see if greece really exit the euro.

A weak Euro will mean a strong dollar. This will be bad for America as the motivation to decrease imports will be less. It will also be a blow to exports. It will also hurt in that we need weaker dollars to lessen our debt load. Ultimately it will be bad for the Euro but good for the economies of Europe.

This just illustrates how much the stock market is "hedged" against the european market and not the American one.

I personally think the whole economy will be doomed in a year or two. Money will equal = value 0, this is what is meant by dec 21 2012, destruction of money, not humanity. LIke everyone claims money= evil

has anybody considered that the EURO doesn't want the Greek debt attached to it, who is leaving who. Also pertaining to the Dollar, when the world doesn't want the debt of the United States what will happen.

I get no milage out of saying that USA and Greece were in the same boat in 2008...are we not in the same boat now.

Things are not better now than in 2008 for us here in the United States, but we still see U.S. posturing so as to act out the role of the Supreme Leader of the World.

Its a sham, only a matter of time, months,where the world rejects US as EURO will shun Greece