Greece’s debt crisis: How did we get here?

It all starts 15 years ago…

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1 Response to Greece’s debt crisis: How did we get here?

  1. Klaus Flesch says:

    The difference in hours work come up again an again, but the comparision used is faulty. What i appreciate is that you link to your source, which helps explaining why you can explain nearly everything withb statistics. The OECD Stat Extracts specifically states that the numbers are to be used as time line numbers allowing to see the change over time but are not very useful to be directly comparable within countries. See the footnote to the data which says “Hours actually worked per person in employment are according to National Accounts concepts.” for Greece and “The data are calculated within a comprehensive accounting structure, based on collectively agreed/customary working hours of full-time and part-time employees whose hours are not affected by absence, and extended to annual estimates of actual hours by adjusting for a wide range of factors, including for example public holidays, sickness absence, overtime working, short-time working, strikes, part-time working and parental leave.” for Germany. I agree that this makes nice grafics and comparisions, but it is comparing Apples to Oranges.

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