The United States has been trying to recover and gain some sort of financial stability since the terrible market crash in 2008. The crash did not only affect our nation, but the entire global economy. We hear a lot about the turmoil and chaos in Greece, and its effect on the European continent. Europe’s debt affects us here, across the pond, as well. The Euro debt crisis affects American exports, and in turn, the stock market. With limited to potentially no exports, American manufacturing will take a brutal financial hit.
Europe’s recession has also caused other parts of the global economy to move at a painfully sluggish pace. China’s recent, and unexpected, slowdown has been traced back to the current troubles in Europe. The global economy slowing down affects American unemployment problems. If global demand was higher, there would be more jobs created everywhere, including here, at home. Fixing the problem in Europe will not only help the rest of the world, but will have a tremendous positive impact at home.No tags for this post.