It’s a no brainer that what makes a country competitive in the digital era is its home-grown talent and ability to create the kind of innovation which leads to growth. Yet it looks like this is something that will not be happening as Greece is facing an exodus of its best and brightest looking for jobs in other countries
In a way that is to be expected. Facing tough austerity measures and still in the grip of a five year recession which has caused the shrinking of its economy, Greece suffers from double digit unemployment which is as high as 50% amongst the 18-25 age group.
With the country facing tough austerity measures which still need to be implemented
no suggestion of any stimulus package has yet been announced, much less been put into effect. This has resulted in a widespread sense of despair which is the leading cause of those fleeing the country.
Brain drains are insidious. Like cutting away at muscle, they leave a country emaciated, unable to respond to crises and too lethargic to work hard to get where it has to. Then there’s the damaging effect they have on morale. Those who are left behind are either too old, too poor or too unskilled to be able to leave the country. This creates a deep sense of disillusionment, apathy and lack of national pride just when you need the exact opposite to get the country out its difficulties.
With a new government sworn in
Greece appears to have been granted a reprieve in the eyes of the money markets regarding its ability to rehabilitate itself and stay in the Euro. The most talented of its citizens however appear to already be voting with their feet.