Tag Archives: greece

Europe – much that could have gone wrong, suddenly seems to be going right

From The Economist:

Pinch yourself. Much that could have gone wrong in the euro zone suddenly seems to be going right. Germany’s constitutional court in Karlsruhe has given the go-ahead for a new rescue fund. A banking union is taking shape…this builds on a recent pledge from the European Central Bank (ECB) to act to stop the break-up of the currency. Even angry talk of expelling the Greeks from the euro has died down.

 

And Europe is moving to becoming a federalist nation, at least for monetary purposes. With many more leaders calling for political federalism too.

Should we break out the Federalist Papers from John Jay, James Madison, and Alexander Hamilton in 1787?

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An airplane is retired every 17 hours – one man decides to recycle one, turns it into a home

“Humanity is not yet discovering how to use these glorious birds,” Bill Campbell.

 

Bill Campbell opens one of nine exits in the Boeing 727-200 that he converted into a home in rural Hillsboro, Oregon. He acquired the jet (for $100,000) at the end of its flying life from Olympic Airways in Greece, had it flown from Athens to Oregon, and finally towed to his land.

 

 

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Average annual hours worked per country

“Over the last century, you’ve seen a reduction from very long working hours – nearly 3,000 a year at the beginning of the 1900s – to the turn of the 21st Century when most developing countries were under 1,800 hours,” says Messenger. “And indeed some of the most productive countries were even lower than that.”

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A look at the average annual hours worked per person in selected countries puts South Korea top with a whopping 2,193 hours, followed by Chile on 2,068.

British workers clock up 1,647 hours and Germans 1,408 – putting them at the bottom of the table, above only the Netherlands.

**The United States is at 1,695.

Greek workers have had a bad press recently but, as we reported in February, they work longer hours than any other Europeans. Their average of 2,017 hours a year puts them third in the international ranking, based on figures compiled by the Organisation for Economic Co-operation and Development (OECD).

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“…the US is the only developed country that has no legal or contractual or collective requirement to provide any minimum amount of annual leave,” he says.

The UK, in contrast, is subject to the European working time directive, which requires at least four weeks of paid annual leave for every employee.

 

via BBC – Who works the longest hours?

 

Here is a screenshot of all 34 OECD countries. Click to the BBC to see the interactive version that shows each country’s hours worked.

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Stereotypes in Europe – hardest working, most corrupt

Among the usual questions about attitudes to the euro and the European Union, people in eight nations (Britain, France, Germany, the Czech Republic, Greece, Italy, Poland and Spain) were asked which country in the European Union is the hardest-working.

The Greeks ignored the obvious answer (Germany) and instead nominated themselves. (The other seven nations all plumped for Germany, as the table shows.) Yet Greek perception is not quite as misaligned with reality as it seems. Greece does actually work the longest hours in Europe…However, as any economist will tell you, working longer does not equate with higher productivity, and Greece’s productivity is relatively low.

via Economist Daily Chart

 

Also, very interesting to look at the “most corrupt” column where Italy dominates, but four countries consider themselves the most corrupt (even the Italians).