While indexation of wages to inflation applies only to around 3% of private sector employees in the euro area, inflation plays a formal role in wage setting for one fifth of euro area private sector employees. Countries in which only minimum wages are indexed to inflation account for another fifth of private sector employees.
Would SEPA integration together with a strong position of current players in the card market mean that national schemes disappear without trace? This cannot be the case. 7  6  ATKearney (2008): The SEPA Shake out! Challenges in Cards and Payments.