MIDDLEBURY, Vt. — Greece has endured tremendous hardship over the past five years, said Professor of Economics Peter Matthews on WCAX’s The 30. Incomes have fallen by 25 percent, unemployment is at 25 percent, and youth unemployment is at 50 percent.
“This is a recession or depression that looks every bit as severe as the Great Depression in the United States,” said Matthews. “It’s been utterly devastating. There are food-insecurity problems all over Greece. The prospect of five or 10 more years of this, which is what most people thought it would take, just seemed too much.”
Watch the full interview at WCAX, which aired July 8, 2015.