Executive Sadman Posted June 5, 2011 Share Posted June 5, 2011 Work smart, not hard. Given hours worked are mentioned only, and not productivity, are we to assume that while the greeks may not be lazy, they may well be stupid. ie. Germans work less and achieve more? I find its best to focus on what isnt reported. Quote Link to comment Share on other sites More sharing options...
alexw Posted June 5, 2011 Author Share Posted June 5, 2011 Work smart, not hard. Given hours worked are mentioned only, and not productivity, are we to assume that while the greeks may not be lazy, they may well be stupid. ie. Germans work less and achieve more? I find its best to focus on what isnt reported. It mentions productivity also..... reread the article. Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted June 5, 2011 Share Posted June 5, 2011 It mentions productivity also..... reread the article. I see it now. Wonder how they measured it? All the studies ive seen show German labour costs falling over the last 10 years, Southern Euro ones rising. Quote Link to comment Share on other sites More sharing options...
alexw Posted June 5, 2011 Author Share Posted June 5, 2011 I see it now. Wonder how they measured it? All the studies ive seen show German labour costs falling over the last 10 years, Southern Euro ones rising. German labour costs fell because while productivity increased (everywhere else did too) they got real terms wage freezes for almost two decades. Southern europe on the other hand got wage rises as productivity increased. Remember, productivity only measures output per hour worked, not output per unit cost. Quote Link to comment Share on other sites More sharing options...
billybong Posted June 5, 2011 Share Posted June 5, 2011 (edited) And of course German property has stayed relatively flat compared to Greece so Germans could more afford to have a squeeze on their incomes. Like the affect of high UK house prices helping to make UK workers more and more uncompetitive. It's a pretty neat game that's being played all over europe, a form of economic warfare. Edited June 5, 2011 by billybong Quote Link to comment Share on other sites More sharing options...
Ned Coates Posted June 5, 2011 Share Posted June 5, 2011 And of course German property has stayed relatively flat compared to Greece so Germans could more afford to have a squeeze on their incomes. Like the affect of high UK house prices helping to make UK workers more and more uncompetitive. It's a pretty neat game that's being played all over europe, a form of economic warfare. Absolutely it iseconomic warfare. Warren Buffet has publicly stated this in interview. They started the war and are winning it. A Goldman person also stated globalisation would be the end of the middleclasses......( That'll be the Daily Mail readers then ) You can even get your personal choice of combats from Next etc. The rulers are probably laughing their socks off. Quote Link to comment Share on other sites More sharing options...
billybong Posted June 5, 2011 Share Posted June 5, 2011 Absolutely it iseconomic warfare. Warren Buffet has publicly stated this in interview. They started the war and are winning it. A Goldman person also stated globalisation would be the end of the middleclasses......( That'll be the Daily Mail readers then ) You can even get your personal choice of combats from Next etc. The rulers are probably laughing their socks off. That helps to explain why shops currently stock so many shirts with epaulettes these days. Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted June 5, 2011 Share Posted June 5, 2011 Here's a detailed explanation of the bailout mechanism :- My friend says it ends using the fast Bukkake distribution pattern, I initially thought that was named after some ancient Japanese mathematician or philosopher, apparently not. Quote Link to comment Share on other sites More sharing options...
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