In the present paper, the implications of the economic crisis are examined; in particular, how the phenomenon of economic crisis is interpreted by the students and how their future is defined by them within this new economic situation. The research was carried out throughout the academic year 20112012 with repetitive semi-constructed interviews to first-and fourth-year students of the Western Macedonia University Pedagogical Department. The selection of first-and fourth-year students was done on the basis of the researchers' choice to observe how the economic situation is interpreted by various age groups and how the future is defined by those who have commenced their studies and those who have completed their studies and address to the labor market. The subject of educational policy was attended by the students of the selected sample. For the specific academic year, in particular, the students also concentrated on the analysis of financial terms as well as patterns of theoretical economy so that they would be more fully informed on economy issues and potentially attend the economic matters. The more general research conclusions are conducive to the observation that first-year students are restricted to view the future more in relation to their studies and less to their professional settlement. Even though they are aware of the fact that the family income has been shrunk they, nevertheless, do not cease to pursue juvenile pleasure. As regards the utilization of gender, social class, nationality or political identity, there are more sides of the issue that seem to be established, especially by the last year students who underline the cul-de-sac state which they and their families confront. Having the advantage of the tool being in use, the research depicts and unfolds the broader viewpoints of the people being interviewed, providing them the possibility for considerations, expression and suggestions. It is important to mention that the present research opens up a range of broader considerations for the implications of the economic crisis regarding the young who comprise the most creative part of society but tend to be left off labor and social life. At the same time, the suggestions form a scrutiny on how the educational policy could be readjusted, taking into consideration the new data so that the possibility of a creative re-examination of broader issues that are associated with the young's life organization within the new, changing, fluid, economic situation is provided by education.
