ETUC pulls apart European Central Bank policy on wages

Europe

The latest issue of the ETUC's collective bargaining bulletin exposes the holes in the European Central Bank's relentless emphasis on the need for moderation in wage policy. The ETUC points out that for all intents and purposes moderate wage increases have been the norm across Europe for nearly 10 years. Even with some indication of higher increases in some countries, the ETUC argues that there is little prospect of inflationary wage developments. The bulletin then goes on to point out that the ECB's focus on wages and the claimed threat of inflationary wage demands in countries like Germany fails to take account of the whole picture and the recent growth in business profits, particularly in Germany but also in Spain which the ECB also takes to task over the potential for higher negotiated pay increases.
Read more at > ETUC (EN)

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Jul. 08, 2008

ETUC attacks European Central Bank's decision on interest rates

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