High unemployment and a continuing “brain drain” for better career prospects overseas endanger the Greek economy’s productivity, Alpha Bank stated in its weekly economic review.
High unemployment and a continuing “brain drain” for better career prospects overseas endanger the Greek economy’s productivity, Alpha Bank stated in its weekly economic review.
According to the domestic lender, continued unemployment of young adults at stratospheric levels in the first quarter of 2016 – the highest in the Eurozone – severely affects social cohesion, and leads to a “bleeding” of human resources.
As a result, the bank says the negative development, massive unemployment in Greece, endangers the country’s medium-term production model and Greek society’s ability to produce innovative business ideas, as well as its ability to maintain the social security system and public services.