ETUC warns against protectionism

Europe Europe
The latest information bulletin from the ETUC’s collective bargaining department focuses on the challenges posed by looming deflation and the trend towards wage moderation. The bulletin concludes warns against any idea that protectionist policies will ease the situation and in particular against “the most perverse forms of protectionism: individual member states, even individual regions and individual companies, trying to escape from the collapse of aggregate demand in the internal market by cutting their workers’ wages. This should remind us of the Great Depression as well: At that time, a generalised policy of wage cuts caused the crisis to jump over into the goods and services market, thereby triggering prolonged depression and deflation.”
Read more at > ETUC (EN)

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