With the “fiscal cliff” and other financial crises the U.S. has been dealing with the past few months, many Americans haven’t had much time to consider what’s been going in the rest of the world, especially the Euro zone—one of the United States’ most important trading partners. Most of northern Europe has actually been fairly stable. Unfortunately, the same cannot be said for southern Europe, where the public debts of Italy, Portugal and Greece exceeds 100% of their gross domestic product (GDP). The challenge for Americans is that a struggling Europe could mean a slower recovery the U.S. economy.
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- Economic Crisis in Europe and What it Means for Americans (Infographic)