You can work in a German factory and then work in a Greece factory. Then maybe you get an idea what is meant with "lazy". The Mediterreans work just more relaxed. You can not just compare working hours, the working mentality is different. So the mentality towards savings. Germans tend to save more, so they can build up more capital per employee which makes the labour hour more productive.

I am German. I don't say which approach is better. But in my opinion it would be fair, that the Germans are richer in an materialistic sense. The Mediterreans have less money but aren't as streed out at work.