Greek debt crisis could slow U.S. recovery, economists say

The Greek economy isn't big enough to do much harm to the U.S., but if the nation's debt problems spread through Europe, that's another matter, economists said. Europe buys about 20% of U.S. exports, and the region will scale back its purchases if the economy gets into trouble, they said. Another likely consequence of Greek contagion is a weakening of the euro against the U.S. dollar, making European exports cheaper. European debt held by U.S. banks totals more than $1 trillion, according to the Bank for International Settlements.

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