The epicenter for the Europe’s current economic crisis is Greece, a country with only 11 million people. Why has this country’s debt created so much turmoil within Europe? And is it only a matter of time until the United States feels the effects as well? In a global economy where one nation’s financial crisis can cause a ripple affect halfway around the world, the debt crisis in Greece hits very close to home.
Simon Johnson, a former chief economist at the International Monetary Fund, talks with host Alison Stewart about how debt on both sides of the Atlantic will shape our economic futures for many years to come.