The country has an expensive yet effective "active labor market" program, says Scarpetta, where the unemployed are helped back into jobs through training, assistance with job searches and even subsidized employment.

FORBES: Work

Greece has already agreed to a harsh austerity program and labor market reforms, which have led to violent street demonstrations and crippling unemployment.

CNN: Greeks pushed to work more to pay debt

In return for international bailout funds, Greece has agreed to a harsh austerity program and labor market reforms -- measures that have led to violent street demonstrations in the past.

CNN: Thousands protest austerity measures in Greece

Stocks were off to the races Thursday, after the European Central Bank unveiled a new bond-buying program and a closely-watched indicator for the U.S. labor market delivered an upbeat reading.

FORBES: Draghi Drives Big Rally For Stocks, Will Friday's Jobs Report Provide Another Jolt?

The latest QE-program announced by the Bernanke Fed will be tied to the progress of the labor market, which has seen the unemployment rate tick down as a consequence of a falling labor participation rate, rather than truly improved economic conditions.

FORBES: Get Ready For QE4: Fed To Buy $870B More Through 2013, Barclays Says