The Greek debt crisis may directly affect the US economy by hitting American exports and the financial system, Atlanta Federal Reserve regional chief Dennis Lockhart said Monday, AFP reported.

He said adjustments across the European Union to fiscal problems resulting from the Greek crisis could dampen euro area growth and constrain US exports to that region.

The crisis could also lead to currency flows from the euro into "safe haven" US dollar assets, causing an appreciation of the greenback and hurting American export competitiveness, Lockhart said.

The European Union as a whole is the largest export market for the United States.

In addition, Lockhart said, the possibility that the Greek fiscal crisis might lead to a broad shock to financial markets "could play out in the banking system or in the form of a general retreat from sovereign debt."

"The Greek crisis might directly affect the US economy," he warned.

The 16-nation eurozone is enduring the worst crisis in its history amid spiraling government debt levels, anemic economic growth rates and rising social protest against austerity measures and high unemployment.
Europe-wide problems with public finances are particularly acute in Greece, which has the highest public deficit in the eurozone and has been the focus of concerns on financial markets that have dragged down the value of the euro.