"As a result, a deep malaise has set in among young people. Some take to the streets in protest; others emigrate to Northern Europe or beyond in an epic brain drain of college graduates. But many more suffer in silence, living in their childhood bedrooms well into adulthood because they cannot afford to move out.
“They call us the lost generation,” said Coral Herrera Gómez, 33, who has a Ph.D. in humanities but still lives with her parents in Madrid because she cannot find steady work. “I’m not young,” she added over coffee recently, “but I’m not an adult with a job, either.”
There has been a national debate for years in Spain about “mileuristas,” a nickname for college graduates whose best job prospects may well pay just 1,000 euros a month, or $1,300.
Ms. Herrera is at the lower end of the spectrum. Fed up with earning 600 euros a month, or $791, under the table as a children’s drama teacher, Ms. Herrera said she had decided to move to Costa Rica this month to teach at a university.
As she spoke in a cafe in Madrid, a television on the wall featured a report on the birthday of a 106-year-old woman who said that eating blood sausage was the secret to her longevity.
The contrast could not have been stronger. Indeed, experts warn of a looming demographic disaster in Southern Europe, which has among the lowest birth rates in the Western world. With pensioners living longer and young people entering the work force later — and paying less in taxes because their salaries are so low — it is only a matter of time before state coffers run dry."
Also quoted by the NY Times is an Italian graduate with professional education and qualifications
"“I’m a repentant college graduate,” she said. “If I had it to do over again, I wouldn’t go to college and would just start working.”"
Re: European Graduates Victim of their Elders' Giant College Ponzi Scheme
Well Fonyass the article quotes an economist who talks about the pension/welfare system being the ponzi scheme, not college per se, but it is a startling article.
What you realize when you travel in Europe is just how much everything there is such a BFD compared to here. You need your car repaired? It's like moving a mountain. And when you get it back - check everything because they have probably swapped out your battery or other parts for older cheaper ones without telling you. Want some service you take for granted? Same thing. EVERYTHING is a BFD. So it's no wonder these youngsters get agitated because they are still living in the middle ages - their parents generation control society - and these parents were raised in a dictatorship like in Spain or other parts of Europe that still today resemble the 19th Century with an abnormally large part of society caught up in what you would call "form" and not "substance". So everything moves at a snails pace over there.
Thats why your European predecessors left Europe and the UK and decided to make their lives here - life sucks over there - especially when it take 10 years to do something that should take 10 minutes.