Associated Press
Monday, May 14, 2012
Your 401(k) could sink again. A plummeting euro may make it harder for American companies to sell goods overseas. Credit could be tightened. • These are all potential complications of a European debt crisis that risks spiraling out of control. In today's interconnected global economy, Greece's troubles could, over time, become a headache for all of Europe and, by extension, the rest of the world. • All this because Greece is at a crossroads, unable to form a government and decide whether it will continue on a path of harsh austerity measures or walk away from its debts and give up on the euro. That would leave many European countries holding their debts and shake the foundations of a currency used by 331 million people. • Here's what a Greek debt default and exit from the 17-nation eurozone might mean for people in ...