blog writing #can the european debt crisis affect us small businesses?

In 2011, Europe faced one of its deepest debt crises. Some countries in the eurozone such as Greece and Portugal were heavily indebted and they needed bailouts from other member states. However, Germany was the only country not affected by the crises, making her the "savior" of the region. As a result of the EURO crisis, the AAA rankings were lost by France, Italy, Spain, Cyprus, and Portugal (Preston) (Lelieveldt, 2016). Additionally, several other economies were affected by the European debt crisis, most notably the US, which has large multinational companies that compete in Europe. Consequently, the U.S based small business enterprises (SMEs) faced tough times due to this economic crisis. Even now, small businesses in the U.S faces reduced cash flow, marketing constraints, and budgeting constraints as a result of the EURO economic recession. This essay seeks to answer the question “Can the European debt crisis affect US small businesses?”