“Spaniards and Greeks burden Germany’s job market” was a headlined article in the German newspaper, Frankfurter Rundschau, saying nationals from the crisis-hit countries – including Portugal and Italy– are fleeing to Germany to find a (better) job.
“In their country (Greeks, Spaniards, Portuguese and Italians) they see hardly any perspective, so they are looking for a future in Germany’s flourishing job market,” the paper reported. It used data from of a Federal Employment Agency report, showing that the number of Greek nationals working in Germany had increased by 9.8% by the end of May compared to the same time period in 2011. “We can reasonably presume that the aforementioned increase is in direct relation to the debt crisis,” the agency stated.
Unemployment in Greece has hit 23.1 percent, but an astonishing 54.9 percent for those under 25 years old, sending many young Greeks fleeing to other countries in search of a job and a better life, many of them never to return. The crisis has caused some labor analysts to bemoan what they call a “brain drain,” of many of Greece’s best and brightest talents who can’t find work, and Germany has become a haven for many.