Greece Is Experiencing An Unprecedented Economical Crisis

Abstract The past years, Greece is experiencing an unprecedented economical crisis. There is a need for designing and implementing policies aiming to foster economic renewal. A clear need for policies promoting innovation based development has risen. This essay focuses on one of the pre-conditions for innovation based growth in the country of Greece. Priority is given, in the terms of the proper function of labour markets, on the problem of Greek brain drain, with emphasis in the potential effective innovation policies to reverse the current situation. Introduction The economic and financial crisis has hit the Greece hard, with the population being subjected to austerity measures in exchange for financial support from the EU, IMF and ECB. Those measures were drastic and paradigms changes were forced in all the sectors of economic and business life. However, these changes failed to detect the resolve the problem, resulting in even deeper crisis with the violent drop of the quality of life, sudden decline in social welfare and unemployment hitting very high numbers. In this context, it now described as the Greek brain drain, where young and talented Greeks are forced to leave the country and seek employment and a better life abroad. Crisis: Unemployment rates in Greece It is a fact that, despite the reluctant signs of recovery in Greek economy, unemployment rate remains at its highest levels since the beginning of the crisis (27, 2% May 2014).Also Greece has one of theShow MoreRelatedLibrary Management204752 Words   |  820 Pagesown that you think would be useful, we invite you to share them with your colleagues through this Web site. Of course, credit would be given to anyone who submits materials that are used. 1 Introduction Library and information centers are experiencing change in almost every area of responsibility and activity. The only constant in today’s library and information services organizations is change. Recognizing that change is inevitable, coping with its effects, and embracing its outcome are vital