Posted on 09/15/2010 7:35:09 AM PDT by SeekAndFind
Greece is struggling to reform its spending practices and stimulate future economic growth because it has a large and growing debt burden to deal with. The nation has been hit by the double-whammy of rising debt and a contracting economy, which means there is more and more debt which needs to be supported by less and less tax revenue and economic output.
But here's another threat -- What if there are fewer and fewer Greeks responsible for the nation's debt burden in the future?
Essentially, if you are young and you see that your country is burdening you with a massive debt liability, sans the government benefits of your parents, you might decide to simply jump ship. Head to another country and avoid being responsible for the debt amassed by your forefathers.
Thus this latest stat via CNBC caught our eye:
According to a survey published last month, 7 out of 10 Greek college graduates want to work abroad. Four in 10 are actively seeking jobs abroad or are pursuing further education to gain a foothold in the foreign job market.
The survey, conducted by the polling firm Kapa Research for To Vima, a center-left newspaper, questioned 5,442 Greeks from the ages of 22 to 35.
...
There could be a “brain drain” if talented young people see few prospects in Greece, he said. But he also expressed doubts about their prospects in other Western countries where unemployment is a problem as well.
(Excerpt) Read more at businessinsider.com ...
If you think this is a distinctly Greek Phenomenon, read this :
TITLE : Why young people are leaving California
http://golis.blogs.pressdemocrat.com/10005/why-young-people-are-leaving-california/
Edumacated youngins are leaving Michigan too.
Nice to see that there are still some Greek Atlases capable of shrugging.
You mean higher, higher and yet again higher taxes don’t increase revenue?
Gee, I wonder why not?
(scratching head, looking around at liberal colleagues for an answer)
Translation: Young Greeks want to improve their foreign language skills and embellish their resumes by working abroad - before permanently returning to their homeland.
Regards,
ROTFL. You watch. Next up will be laws to keep private sector people from leaving Greece. A border fence soon to follow complete with machine gun equipped guard towers.
Just making it easier for the mexicans to move in, take it over and take it “back”.
Greek girls FTW! Come on over here you’ll round out the eastern europeans and this miserable place will be paradise in the summer.
In their case, that would more likely be "Persians".
Look to Greece as yet another example of why borders are patrolled in communist countries. Funny how you NEVER hear of people being prevented from flooding IN to places like N Korea, Cuba, Soviet Union, East Germany, and any other places with or previously having communism/socialism as their form of government. When will liberals finally admit this was to keep the people IN not keep a flood of people OUT?
It is the one reason I would say don’t build a wall here. It could be used against us if the situation continues on its current path.....
This is a situation that leftists viscerally understand -
you have to either make the fascism/socialism universal (like all laws at the federal level here),
or the producers will leave your control.
The left HATES the idea of states not complying with their dictates, because they know they’ll just be stuck with the “gimme” crowd with nothing to give them.
Maybe if there is a mass exodus of young, productive, tax paying American citizens, they will finally "secure" the border!
no they really want out of high taxation and corruption where the only livable job is with a government dependent on bribes.
Yeah those same university students took to the streets when the austerity measures were passed.
They are not going anywhere,there is no place in Europe that is going to be,or at least stay, Greek friendly for long.
That might be a good thing given that something like 13% of the population there is foreign born not to mention the Albanian situation.
RE: A similar problem in Idaho. The kids earn a degree at Idaho State University, but can’t find employment locally that matches their skill sets.
Well what can I say?
There used to be a time when friends and family would advise a young man looking for a good career to : “GO WEST, YOUNG MAN, GO WEST”. That would often mean California, the golden state.
Look what’s happened to the golden state since ?
We actually have a mass exodus of young people for the past 4 years !
Heck, I have a nephew who graduated from Law School in UCLA and just passed the bar looking for a job for 9 months!
I’m seeing more and more Michigan plates here in La.
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