– 72% Of Greeks Need More Work To Make Ends Meet (ZeroHedge, April 12, 2014):
Almost 10 million out of 43.7 million part-time workers in the European Union were under-employed in 2013. As Bloomberg Brief’s Niraj Shah notes, based on Eurostat’s Labour Forces Study, a record 72 percent of Greek part-time workers wished to work more hours compared with 4.2 percent in the Netherlands.
Maybe the Dutch should lay some more people off to lower their bond yields? As we explained in great detail here, the Greek “recovery” is a mirage and these numbers do not lie.
Source: Bloomberg Briefs ( @economistniraj )
You need demand.
Greece’s primary source of income is Tourism, which has bottomed.