European Economic Headlines have focused on the European Union response to the Greek debt crisis.  While some European leaders called for changes in the treaty – a long and painful process – other leaders focused on the possibility of tightening the Stability & Growth Pact, such as allowing the EU to flag looming problems in member countries and pressing local governments to change course.  While pushing for greater economic coordination in the future, member countries – including Portugal, Spain and Ireland, all experiencing financial difficulties themselves – are stepping forward now to provide a rescue mechanism for Greece.

In the short term this can mean a favorable exchange rate for U.S. companies selling into the EU. Longer-term, it can also mean an even stronger European Union, and stronger Euro.  The economic health and practices of the European Union are of critical interest to the rest of the world, particularly the U.S.  Companies have already altered course where they can to adjust strategies. What course of action is your company taking?  Longer term, what opportunities or challenges will be presented to foreign companies doing business in the EU as member countries work for closer economic cooperation?