(If not rectified in some way that will produce other problems, since countries like Greece and Romania are spending a bunch of money to train engineers, many of whom emigrate immediately, going to contribute to the economies of places like Denmark, Germany, or the UK rather than finding a role in the local economy. Some remittances do get sent home, but overall, training another country's workforce probably ends up as a net loss for the training-side countries.)
Everyone with a degree with a slight chance to work abroad, just leaves.
I did it back in the first .com crash back in the early 00's, and seldom saw anyone returning.
(The same is not true in the UK, for example, which I'm told is one of the most relaxed Euro nations. I know someone who managed the RBS shrinkage process, I couldn't deal with that sort of stress.)
Additionally, your competition for work is reduced since a lot of Indian shops are simply terrible places to work. If you pay people well and treat your employees well, they will love you forever.
eastern europe is chock full of awesome talent, talent that can actually get shit done without constant supervision.
outside of the most braindead tasks i have not seen anything productive coming out of indian it shops.
I'm not proposing one emulate the Infosys model, which I think is what you are criticizing. I'm proposing going to India and hiring developers the same way you would if you were in the US. There is no shortage of excellent developers here - I've had great success in hiring myself.
Italy is badly underestimated; the big Italian contribution people will know is the Arduino. Long engineering tradition in the north especially around Milan.
Spain is something of a disaster area after the property boom, but Barcelona seems to have the trendy/techie atmosphere that people admire.
France is probably closest to the stereotype. I knew someone who had to deal with ST Microelectronics (Nice) and they were as bureaucratic and ossified as you'd imagine. Somehow they still manage to ship stuff.
I've found the work ethic within the computer industry to be quite good here in Italy. The wages are also low, by rich country standards. I think it'd be a great place to send work if they were able to lower the taxes and bureaucracy some.
If work ethic is the right of being exploited, then I need to check my dictionary
What you can't easily do is fire people for BS or discriminatory reasons. Oh, and everyone has healthcare so you can't use the threat of taking that away as a stick to corral them with.
A few years ago I worked at a place with a lot of mechanical turks - ladies tagging pictures day in and day out. The expectation they had, and which took me a while to break, was that they were to be subservient. Make me tea, not speak up when I make a mistake, etc. They all considered it unusual that I would engage with them socially, share lunch, or laugh when they played pranks on me.
In software the situation is certainly getting better. In the past few years, I've run into considerably more places that seem like good places to work. Some foreign shops with a local presence, and a number of startups. But being a good place to work and treating employees with respect is still a big competitive advantage in hiring.