you know on the credit right down so i released a stat from this it was actually mark chandler who cameup with this and everyone was like no it can't be true and they were making all sorts of reasons why it isn't true but the fact of the matter is the greeks do work long hours but you know the productivity levels are not the silly indicative of they're not working while they're at work but rather it has something to do with the capital investment within that country and in terms of being able to how much predict productive investment you've done in order to make sure that those hours worked to the g.d.p. of the country now let's quickly talk about the u.s. the u.s. doesn't have any statutory minimum annual leave but a study of employees found that full time workers and an average of sixteen days off and we work hard but we're also the most productive we're also the most productive but compared to france or germany it's not a huge amount so are we're trading time for money what's your view here we have a ten second my view yes very much so i think that's become a part of the culture to t

joining us now on oil and gas, carl o'leary president of oil outlooks and opinions and on currencies mark chandlertrategy at brown mothers. carl, you heard the story that michelle just did. it's an interesting head line. significant to oil prices long-term? >> not significant to oil prices long-term. you know the u.s. is very oil independent. and michelle got a point here. this oil sale, this purchase by the u.s., we come through this kirkuk crude, it's definitely political statement. it's not anything about oil. we don't really take that much oil from iraq. we take maybe a tanker a week. so, buying this tanker, this one tanker this week, means that that's our purchase from iraq. so it's more a political statement. i don't think it makes a difference to oil prices here in the u.s. so much. but if it could and would globally make more of a difference if there's a separation of state there. >> okay without getting too wonky the spread between brent crude in europe and wti has narrowed to the point of almost being gone after being much wider a few months ago. what's happened and what is it saying abo