Factoid:
33% of Greeks earning wages derive their income from the government.
(Imagine if we looked at that and included percentage of Greeks 'dependent' on government jobs....spouse of workers, etc.)
Retirement age is 55 to 58 in the government sector with full government pension.
The state pension also covers regular retirees from the private sector.
Female radio operators and hairdressers can retire at 50 because their work is classified as 'hazardous.' There is a list of 600 different hazardous jobs that lower the retirement age to 50.
Greece's debt to GDP ratio is nearly 120%, and its obligation (social programs) to GDP is estimated at nearly 900%.
900% is alot.
Greece has had to raise its bond return interest rate to 100% higher than the Euro Zone average in order to sell bonds.
Greeks work shorter hours and spend less time in the educational system than Germans.
Greece wants German bailout money.
Germany says, "Go to the IMF."
Greece says, "You insult me! Give me the money!"
The Greek government tried to call for austerity measures...but greater than 50% of the country is dependent on the government payroll, so austerity would mean actual austerity, not American style austerity, and they are calling for general strikes to block austerity measures.
Keep in mind that austerity measures for Greece may include terrible things like 40 hour work weeks...
(Greece's largest labor union, the GSEE, has demanded a 35-hour work week, with workers maintaining the same wages and benefits of a 40-hour work week.)
Greeks get 37 paid holiday days off work each year.
Gonna be a hot summer in Greece.
My main wonderment, if you look at how little Europeans have to work in general, is how the Euro survives at all.
Check those days off!
You think the Euro is a long term survivor?
Factoid:
33% of Greeks earning wages derive their income from the government.
(Imagine if we looked at that and included percentage of Greeks 'dependent' on government jobs....spouse of workers, etc.)
Retirement age is 55 to 58 in the government sector with full government pension.
The state pension also covers regular retirees from the private sector.
Female radio operators and hairdressers can retire at 50 because their work is classified as 'hazardous.' There is a list of 600 different hazardous jobs that lower the retirement age to 50.
Greece's debt to GDP ratio is nearly 120%, and its obligation (social programs) to GDP is estimated at nearly 900%.
900% is alot.
Greece has had to raise its bond return interest rate to 100% higher than the Euro Zone average in order to sell bonds.
Greeks work shorter hours and spend less time in the educational system than Germans.
Greece wants German bailout money.
Germany says, "Go to the IMF."
Greece says, "You insult me! Give me the money!"
The Greek government tried to call for austerity measures...but greater than 50% of the country is dependent on the government payroll, so austerity would mean actual austerity, not American style austerity, and they are calling for general strikes to block austerity measures.
Keep in mind that austerity measures for Greece may include terrible things like 40 hour work weeks...
(Greece's largest labor union, the GSEE, has demanded a 35-hour work week, with workers maintaining the same wages and benefits of a 40-hour work week.)
Greeks get 37 paid holiday days off work each year.
Gonna be a hot summer in Greece.
My main wonderment, if you look at how little Europeans have to work in general, is how the Euro survives at all.
Check those days off!
You think the Euro is a long term survivor?