Growing up in Greece, one of my most joyous childhood memories was the announcement that the school (and work) week would shrink from six days to five. Second, Greeks are known for appreciating work-life balance, and they already work more hours than other Europeans. The average Greek worker spends 39.8 hours per week on the job, compared to an average of only 36.1 hours across the European Union. And in a small open economy like Greece, higher wages and prices would have detrimental effects on international competitiveness. Given the current global tensions, the pendulum seems to be swinging in the direction of more work, whether it comes through a higher retirement age or a longer work week.

Source: Stuff July 24, 2024 04:32 UTC