Jörg Asmussen: Changing reality Intervention by Mr Jörg Asmussen, Member of the Executive Board of the European Central Bank, at the Panel Discussion “Reverse Reality – What If: Lehman Sisters’ or the Sisterhood Ran G20 and Big Business?”, Women in Parliament, Global Forum, Brussels, 28 November 2013.
We’re not yet at a stage where this strong demand for labour would translate into higher nominal wages. But at some point we’ll reach that point and then wages will start rising. There are good reasons to think we’ll get there. We’ve been in this initial stage of the recovery, where it has been a lot about part-time jobs and temporary contracts.