[Leica] Greece's woes now migration

[jayanand at gmail.com (Jayanand Govindaraj)]

Nathan,
India's invisible flows last  financial year (2010-11) just hit US$100
billion. I think Greece will get substantial flows because the guys who get
work will send money back home for the family to live. Greece is more like
India, Sri Lanka or Philippines than Germany, so invisibles should be a
major factor relative to the economy in boosting reserves. Next step I think
you will see a flood of maids/nannies etc from the PIGS to the prosperous
Northern European nations.
Cheers
jayanand

On Wed, Jul 20, 2011 at 11:03 PM, Nathan Wajsman <photo at 
frozenlight.eu>wrote:

> Yes, I have heard stories here about unemployed Spanish engineers and IT
> types taking courses in German in order to go to Germany for work. This is
> exactly how it should be. This is one of the fundamental ideas behind the
> EU--the free movement of labour--and it is good for all three parties
> concerned:
>
> - it is obviously good for the person since s/he will get a good job in a
> growing economy
> - it is good for Germany because their labour shortage is alleviated
> - and it is good for Spain, not so much because of remittances (I doubt
> there will be much of that) but simply because it is far better for the
> young engineer to be working abroad, learning new skills, languages etc,
> rather than languishing unemployed at home.
>
> And when and if the situation improves here, they will come back and apply
> those skills here.
>
> One difference between intra-EU migration and other types is that it is
> eminently reversible. A few years ago there were up to 1 million Poles
> working in the UK and Ireland, in all sorts of occupations ranging from
> professors to (mostly) construction workers. Now that those countries are 
> in
> recession, while Poland is growing at positively Asian rates, many of those
> people have gone back to Poland where the opportunities are better right
> now. This is exactly the kind of flexibility that Europe needs and it is to
> be welcomed.
>
> Cheers,
> Nathan
>
> Nathan Wajsman
> Alicante, Spain
> http://www.frozenlight.eu
> http://www.greatpix.eu
> http://www.nathanfoto.com
> PICTURE OF THE WEEK: http://www.fotocycle.dk/paws
> Blog: http://www.fotocycle.dk/blog
>
> YNWA
>
>
>
>
>
>
>
> On Jul 20, 2011, at 4:52 PM, Jayanand Govindaraj wrote:
>
> > Douglas,
> > It will help, as invisible flows, i.e.remittances back to the home
> > economies, will go up considerably, nicely augmenting reserves. India
> lived
> > on this tactic for decades - that is why you have doctors and engineers
> from
> > India all over, and the Middle East is full of our blue collar workers.
> This
> > is a form of export, after all, and not really too different from, say,
> > tourism. Makes a lot of sense if you do not have jobs at home.
> > Cheers
> > Jayanand
> >
> > On Wed, Jul 20, 2011 at 3:14 PM, Douglas Sharp <douglas.sharp at gmx.de>
> wrote:
> >
> >> Germany has just started a campaign to get highly qualified people to
> leave
> >> Greece, Spain, Ireland and Portugal to fill the gaps in a shortage of
> >> engineers and graduates in German industry (which is booming as never
> >> before).
> >>
> >> I somehow don't think that creaming off the elite is the way to get
> those
> >> countries back on track.
> >>
> >> Funny thing though - most of the unemployed graduates in GR, ES, and P
> seem
> >> to want to find jobs in the UK. Must be the language barrier.
> >>
> >> Douglas
> >>
> >>
> >>
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