July 21, 2015

Scott Sumner Discusses the Greek Financial Crisis on GVH Live

Scott Sumner

Ralph G. Hawtrey Chair of Monetary Policy

Earlier in July, Eurozone finance ministers agreed in principle to bailout Greece after the country implemented new economic reforms and help it recover from its massive financial crisis. 

While the unemployment rate overall has hovered around 25% in Greece, Millennials have been hit hardest where one in two are unemployed. 

Why should millennials care about what's going on in Greece? Scott Sumner, Director of the Program on Monetary Policy at the Mercatus Center at George Mason University, believes that Greece is just an extreme example of what happened here in the United States.