Published 1 month ago

Have low wages permanently 'scarred' Europe's economy?

Summary by Ground News

European Central Bank (ECB) executive board member Piero Cipollone said that real wages, which fell across the EU by 4.3% in 2022 and 0.7% in 2023, must recover to a level such that the eurozone’s weak growth rate does not become permanently entrenched. If real wages do not recover, this could increase the risk of protracted economic weakness, which could cause scarring effects.

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Have low wages permanently 'scarred' Europe's economy?

European central bankers, we learned earlier this week, view wages much the same way that Goldilocks likes her chairs: they shouldn’t be too high, or too low, but just right.

1 month ago

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