I think what he is meaning by holiday is statutory vacation time; it's typical in Europe to get 5 weeks vacation time (I get 6).
I'm a conservative voting, free market believing Brit. I even work in the finance sector. But he american attitude to holidays appals me. I'm all for high productivity and commitment to work. I'm not even a fan of mandatory holiday allowances as I think that's should be up for negotiation.
But you'll have to take my 25 day holiday allowance out of my cold, dead fingers. My kids get to grow up just once, and I'm absolutely going to be there to see it.
The finance sector in the UK seems quite mean about holidays - I have 33 now and wouldn't go back. My wife is a lawyer and she gets even more, but due to pressure of her work she never gets to take them - at least I do.
Where are you getting this from? They have the same type of labor laws in the US and even in China (how it is enforced is up for debate). You agree to work a certain amount of hours (35-40), you go over the company pays more. And they can't make you agree to more than that.
Holidays aren't mandatory, they are an entitlement. I may or may not work during Labor Day or Christmas. Most offices choose to shut down during holidays because, unless it is critical, with everyone else closed you it's almost impossible to get anything done.