Greeks Seek to Escape Debt Crisis Abroad

Governments that dawdle in resolving economic crisis – or impose unfair taxes or cuts – could lose their smartest, most skilled citizens. As Greece’s debt crisis rocks the European Union, thousands of young and skilled workers are emigrating, reports Ingrid Melander for Reuters. Nonprofit aid organizations for the Greek diaspora are swamped with aid requests, she adds. Greeks are furious about their country’s tarnished reputation and emerging stereotypes about the Greek work ethic. Emigration advice and country comparisons are plentiful on the internet. With the official unemployment rate at 16 percent, many foreign workers are packing up to leave, too. If Greece’s total debt is about €350 billion, that’s slightly more than €30,000 per person, or less if Greeks accept the 50 percent write-down deal offered by the European Union. Rising emigration rates will add to the overwhelming debt burden for individual Greeks. – YaleGlobal