Word: sickest
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Dates: during 2010-2019
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Most Greeks agree that the tax system and the bloated public sector, dubbed "the country's sickest patient," are at the root of the problems. In a country of 11 million people, nearly 850,000 workers are employed by the state--the country's biggest companies are state-run or -managed. They get generous perks, like 14 paychecks a year instead of 12. Many enjoy a workday that runs from 7:30 a.m. to 2:30 p.m. "The state has an irrational control of the economy," says Yannis Stournaras, director of research for the Foundation for Economic & Industrial Research...
Most Greeks agree that the tax system (see following story) and the bloated public sector, nicknamed "the country's sickest patient," are at the root of Greece's current problems. In a country of 11 million people, almost 850,000 workers are employed by the state, which means they receive 14 monthly paychecks instead of 12. Many enjoy a work day that runs from 7:30 a.m. to 2:30 p.m. "The state must change the mentality of the public employee," says one investor and economist, Timos Mellisaris, who calls Greece's public sector "the last communist frontier." Greeks like...