Inadequate incentives

The Labor Ministry's pilot program titled "Greece Again" and described at its launch as an "emblematic initiative" hopes to convince some 500 highly qualified Greek professionals aged 28-40 who are currently working abroad to come back home. How? By promising a minimum gross salary of 3,000 euros a month. The businesses that will be hiring them will receive a subsidy covering 70 percent of that base salary for one year on the condition that they promise to keep them on for an additional 12 months after that. Behind all the pomp, though, lurks a harsh reality.

Labor Minister Yiannis Vroutsis may say that Greece has emerged from the crisis and is now on course for an economic and social recovery, but the prevailing labor market conditions do not back his claims. There are, for example, many people with master's degrees and PhDs who chose to stay in Greece rather than seek...