For down and out Greeks, a U.K. is a betrothed land with jobs aplenty.
Greece was already pang from a bad case of brain drain but new debacles, that ushered in capital controls and roughly got the country ejected from the euro, have turbocharged the gait of tellurian collateral flight. Direction of travel: west opposite mainland Europe and a English Channel.
Data supposing by U.K. jobs site CV-library.co.uk shows that visits to a website from Greek workers final week some-more than doubled from a year ago and that trade from Greece has hit an all-time high. Based on weekly expansion rates, CV-library expects a altogether series of Greek workers acid a site for U.K.-based employment to double from Jun to July.
As shown in a chart, a spike in trade coincided with a supervision shutting a banks and announcing daily boundary on a volume of money Greeks can withdraw. On Monday, a country’s banks reopened. Capital controls sojourn in place.
Before this new swell there were about as many job-seekers from Greece as from Portugal, once also a bailout recipient, and usually half as many from France, the U.K.’s next-door neighbor. Now, Greek job-seekers outnumber them both. Bear in mind, too, that France’s race is over 6 times that of Greece.
The allure is elementary enough. The U.K. boasts nine quarters (and counting) of mercantile expansion and it’s home to London, a financial collateral on standard with New York.