May 28, 2012 in Daily Bulletin
As the Eurozone crisis continues to sputter on Suzanne Daley and Nicholas Kulish reported on how Europe’s “lost generation” is dealing with the continent’s economic woes.
- While those that are a part of the Euro-Area have always had the opportunity to work in other countries, the comforts of home and language considerations meant that not many did.
- This is now changing with the Euro-Crisis causing the economies of several countries such as Greece and Italy to stall.
- Germany has already benefitted a lot from the Euro. The currency has stayed low, helping German exporters, and as the strongest economy in the Eurozone the interest rates on its debt have also been low, allowing it to borrow at low rates. Now these skilled immigrants are heading to Germany for jobs.
- If the Eurozone growth crisis doesn’t end soon then these people will begin to settle and establish families in Germany, reducing the likelihood that they will ever return.
- Engineers can make twice as much in Germany as they can in Spain.
- Spaniards are often surprised at how formal the workplace is in Germany, and how direct and quiet Germans can be. Spontaneous hallway conversations about work are discouraged, and instead employees are told to schedule meetings.
To read more about population growth in Germany, why “welcoming culture” has become a part of the vocabulary for Germans, the country’s experience with integrating minorities from other countries, where most of Germany’s immigrants come from, why Germany is referred to as El Dorado by some, how taxes compare, and why the situation currently benefits both countries, click here.
Source: New York Times
Via: Marginal Revolution