There is no low wage workforce to invest into, because the job market is the whole EU. People (especially educated younger generation) won't work for low salary

There is no low wage workforce to invest into, because the job market is the whole EU. People (especially educated younger generation) won't work for low salary at home if they can earn more euros for the same work on the other side of the fence. Local businesses have to pay competitively. And the fact countries can't use protectionist measures inside EU does not help either.