Wednesday, May 30, 2012

'It is virtually impossible to find a job': Brain drain is new Greek tragedy

NBC News
May 29, 2012

Thousands of well-educated workers are fleeing Greece as the eurozone crisis batters their homeland.

Germany, Europe's economic powerhouse and a country which has been criticized by many Greeks over its harsh demands for austerity cuts in return for bailout cash, has experienced an influx of young skilled immigrants.

Der Spiegel magazine noted that while Greek newspapers "printed cartoons depicting the Germans as Nazis, concentration camp guards and eurozone imperialists who allow their debtors to bleed to death," the Greeks have kept arriving – bringing an "anything is better than Athens" attitude with them.

With more than 50 percent of young Greeks out of work, it's not surprising that official statistics show the number of Greeks who moved to Germany increased 90 percent during 2011.

Unemployment rates have consistently been shrinking in Germany in recent years and the economy is thriving despite Europe's ongoing financial crisis. Relaxed cross-border employment regulations for member states of the European Union also make Germany an attractive choice for job seekers. And while Germany is in need of specialized workers, the Greek labor market has little to offer.


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