Furthermore, now that we have stabilised the euro, this discussion does not reflect the reality that the euro is an irreversible project. But let me say another thing: those dreaming of the world before the euro, tend to forget what it really was, before.
The collective labour agreement in the metal-working industry is largely in line with our expectation of negotiated wage rates in 4  BIS central bankers’ speeches  Germany climbing by roughly 3% this year.