German pay rises put pressure on ECB policy

Wage moderation in Germany may be coming to an end at precisely the wrong time for European Central Bank President Mario Draghi.

4th April, 2012
German pay rises put pressure on ECB policy
The European Central Bank's headquarters in Frankfurt.

Wage moderation in Germany may be coming to an end at precisely the wrong time for European Central Bank President Mario Draghi.

As nations from Greece to Spain battle recessions and record unemployment, workers in Germany are winning some of the biggest pay increases in two decades, with public service staff set to gain 6.3 per cent more by the end of next year. That’s widening the gaps between Europe’s largest economy and its euro...

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