Europe's long siesta is over

"The Europeans have created a leisure society, while the Americans have created a work society," said Klaus F. Zimmermann, the president of the German Institute for Economic Research in Berlin. "But our model does not work anymore. We are in the process of rethinking it." A great article in the New York Times explains why Europe - "a victim of chronic economic stagnation, deteriorating public finances and competition from low-wage countries" - says good-bye to its long siesta and increases the working hours for its residents. FYI: Europeans work an average of 10 percent fewer hours a year than Americans. Germans, with the lightest schedule, work about 18 percent fewer hours.