With the Europeans returning from summer vacation this week, it is likely the problems in Europe will return to the forefront. Sunday’s New York Timesfeatured the following article that discussed various plans American companies are putting into place in the event that Greece is to exit the Euro Zone. Some of these companies have stated they are prepared not only for Greece to change currency, but also if other countries were to follow suit. The issues in Greece and other countries, such as Spain and Italy, have been well telegraphed and have given companies plenty of opportunities to create contingency plans based on many different scenarios. While any breakdown in the Euro Zone is likely to create turmoil in global markets, this preparation will likely mitigate the damage and the transition could be somewhat smoother than an unexpected economic event.
U.S. Companies Brace for an Exit From the Euro by Greece
Even as Greece desperately tries to avoid defaulting on its debt, American firms are preparing for what was once unthinkable: that Greece may soon be forced to leave the euro zone.