Even as Greece desperately tries to avoid defaulting on its debt, American companies are preparing for what was once unthinkable: that Greece could soon be forced to leave the euro zone.Read the rest here.
Bank of America Merrill Lynch has looked into filling trucks with cash and sending them over the Greek border so clients can continue to pay local employees and suppliers in the event money is unavailable. Ford has configured its computer systems so they will be able to immediately handle a new Greek currency.
No one knows just how broad the shock waves from a Greek exit would be, but big American banks and consulting firms have also been doing a brisk business advising their corporate clients on how to prepare for a splintering of the euro zone.
Sunday, September 02, 2012
U.S. Companies Brace for an Exit From the Euro by Greece
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2 comments:
Well, if Greece bails how far behind will Italy and Spain be?
I'm sure the impact on the U.S. will be $1.00 more per gallon for gasoline. After all, we get lots of oil from them, right?
For some odd reason, I happen to know a bunch about Spain right now, and, frankly, I like what I see. That's not to say that Spain doesn't face serious problems with a significant probability of failure.
Ever wonder why we haven't heard too much about Ireland and Portugal lately? They're growing, and good news doesn't sell.
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