17. marts 2011

Example not to be copied elsewhere in Europe – but unfortunately I am afraid it will

Excerpt from: http://online.wsj.com/article/SB10001424052748703899704576204770009558938.html

“…At more than 20% 1) and rising, Spain’s unemployment rate is far and away the highest in the developed world. In addition, economists say, the country’s rigid wage bargaining system has contributed to one of Europe’s highest labor-costs growth rates, undermining the competitiveness of Spanish industry.

Collective wage bargaining agreements, many of them indexed to inflation, locked Spanish companies into healthy salary increases even during the depths of the economic crisis. In 2009, Spanish gross domestic product contracted by 3.7% and the economy shed 1.4 million jobs. But wages negotiated by collective wage bargaining agreements— which cover about half of the work force and influence the other half— rose by 2.3%…”


1) add a great deal more like in Denmark

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