ETUC open letter rejects wage cut proposal

Europe Europe
The ETUC has written an open letter to Olli Rehn, Commission for Economic and Financial Affairs, criticising his support for the idea of an agreement between unions and employers in Spain to cut wages by 10% in order to reduce unemployment. The ETUC argues that wage cuts would deepen the recession and lead to pressure for wage cuts in other countries, creating a spiral of decline in pay.
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