Portugal -EU calls for another 5% wage decrease -February 21, 2014

The European Commission has argued in its report on the 10th regular review of Portugal's economic and financial assistance programme that the country needs a further 5% average reduction in wages to ensure a balance between the unemployment rate and wage rates. According to the EC’s calculations, ‘a reduction of one percentage point in the unemployment rate demands a reduction in real wages of about 2.4%’ - which means a 5% decrease of real wages.

English: http://www.theportugalnews.com/news/eu-calls-for-portugal-wages-to-fall-by ...

 

For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Mariya Nikolova mnikolova@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. You may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.


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