In addition, at the euro area level, it is essential to ensure that fiscal rules become simpler and more effective, but also that the macroeconomic imbalance procedure operates symmetrically, both for Member States with external deficits and for Member States with external surpluses.
B. Krueger, “Reflections on Dwindling Worker Bargaining Power and Monetary Policy” (luncheon address at the Jackson Hole Economic Symposium, Jackson Hole, Wyoming, August 24, 2018) and the references there-in. 7  to replace salaried employees. Unionization rates in the private sector are down. And we hear from labour market experts that this has changed the social contract between companies and their workers.