Thus, a rapid equalisation of the nominal wages in the participating countries is not realistic, as the unemployment rate threatens to continue rising in countries which raise the wage level above the level of labour productivity. Increases in negotiated wages and settlements should therefore conform to the national employment situation and the growth rate of labour productivity.
BIS Review 63/2004  3  Corporate Governance and the requirement to ensure ‘fit and proper’ persons hold the positions on the board and management cannot be emphasized enough. It should be a challenge for every society, and more importantly every member, to ensure that credible people get to hold those responsible positions.