Several political parties have spoken in favour of an extraordinary wage boost for large or small groups of public-sector employees via a special pool of funds earmarked for this purpose. I would like to issue a strong warning against making wage bargaining in the public-sector labour market a parliamentary issue at this stage.
Central banks could, as a result, ﬁnd it increasingly diﬃcult to change their expansionary stance in a timely manner, [9] because they may come under growing political pressure to ensure the sustainability of government debt by maintaining an accommodative monetary policy for longer than is needed to safeguard medium-term price stability. Monetary policy needs, then, to remain steadfast.