The average Greek is working a full 40% longer than the average German

(If you were confused why the "Most X" column is not the same as "Least X" but in reverse order, it's because the list is not exhaustive.)

Well BBC ran a show last night. And it did show the some reasons why Greece is such trouble today.

It turns out people spent like crazy, far beyond their means. Things like electricians driving Porsche's and High End Mercedes cars. All of it imported from Germany. When a nation full of people with government included involves in such spending it is but other wise natural that they price for it later on.

The anchor did explain that it wasn't just weak institutions and bad government policies. It was reckless lifestyle spending on part of Greeks. It seems many Greeks now want to sell of their costly cars, which are now believed to sell for less than half the price they bought it. So what happens? If they are unable to pay the loans and Bank take the cars. Banks still get only ~50% of what they lent. Its step by step collapse of a whole system.

In many ways, the institutions, like Banks are responsible too, for lending out money like that- unchecked. But the whole system is to be blamed. People, Government and everybody else involved.

On the other hand they also showed, Germany and how they manage their economy.

Now lets look at it, Greeks might work harder than Germans. That is no indication of why Greece is such crisis today. Apart from working and earning you also need to manage your money well. Why spend more than what you can earn?

Also scenes in Greece were heart warming, difficult to believe its 21st century Europe. Its almost like a third world country. People begging on streets, sleeping on footpaths, Eating from what is distributed. Couples relying on free clinics for minimal healthcare. As I said, only the Infrastructure looked grand. Otherwise it looked like a third world country.

"Its almost like a third world country"

If it looks like a third world country, then where did all the money go? Presumably the majority of people aren't driving around in Porsches?

It does not matter how long you work. What matters is what you get done in a week.

Greece could be the most productive country in the EU and their government would still be in dire straits. Tax evasion is endemic. It doesn't matter how much people are making if almost nobody is paying their taxes. The Greek government has started cracking down, but Greek disrespect for taxation has been building for generations and won't die easily.