Greece's Brain Drain Greece has come out of the worst of its economic crisis, but it's not over yet, Bank of Greece Governor Yannis Stournaras says in this interview with Fortune's Vivienne Walt. One lingering effect? Brain drain—and Stournaras says the country needs to bring those people back. "Not in the distant future, but immediately, by achieving higher growth and creating good new jobs, with good salaries," he says. Fortune
I am seeing this pattern across Europe, latest similar example being Poland. I guess if there is mobility without border restrictions then people will move out - analogous to a young professional moving out of West Virginia to Charlotte in search of employment.
It's not that dramatic (in %), as in my home-country, which has a border, with Poland. (population, after we became independent) Before we joined EU, the difference in salaries , in the west Europe & here, sometimes, was 1 to 8, in the same profession. Now it went to 1:2 / 1:3 i would say, based on what are you doing, for a living. Most of millennials (up to 60%), of whom i know, grew up with, who were my class-mates, - now are abroad, scattered trough Europe, few ended up in Australia.
That is what you get when there is a free trade zone and free movements of people and capitals (within EU). Market economy at work.