Brain drain costs Italy billions of euros

Confindustria head Squinzi warns of 'dangerous shortsightedness'

Brain drain costs Italy billions of euros

Rome, May 13 - The brain drain has cost Italy at least five billion euros in recent years and given a "precious gift" to the country's competitors, Confindustria President Giorgio Squinzi said on Monday. The head of the country's powerful employers' association said that "our unbelieving competition thanks us". Squinzi told convention goers at Milan's Polytechnic Foundation that his calculation is based on the fact "that a researcher is a collective investment of about 800,000 euros". "This continuous hemorrhage has spread to our best students..and our country is reacting with dangerous shortsightedness," Squinzi said.

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