How the Euro and the Commission have protected EU private sector wages (spoiler: bad)

9 May 20222 years ago babelfish

We joined the Euro to be "Protected", but if European policies are worse than those that could be applied on a national basis and if economic measures are always too broad for some and too narrow for others, what can happen to those that had to be protected? Simple, that protection does not exist and bad comparative policies have had heavy results on the remuneration of private sector employees in Europe. We can see it from this simple graph proposed by Liturri from the Financial Times

It is evident that since 2015 the wages of the euro zone have lost track of both wages in the USA and in the United Kingdom, an indication that the anglosphere has nevertheless had an economic growth that we have not had and this has in its voilta reverberated in an increase in private sector remuneration. The ECB's policy of “Containing” wages has worked very well, accompanied by a repressive economic policy desired by the Commission. This is also visible by analyzing the average remuneration for each state from OECD data

The US now clearly leads the ranking, while large European countries such as Italy, France and Poland are well below the OECD average. A situation that shows how the Union and the euro have been a real failure in the protection of wages and wealth

Now the ECB says there will be 3% growth in average wages in the first quarter of 2022, by which time this growth will be eaten by runaway energy inflation.

Politically and socially, the Union and the Euro have been a failure, and these graphs clearly show this. The EU and the Euro, born with the ambition to bring widespread prosperity, have failed, and we see the achievements of the past eroded every day. Of course you will never hear this in the mass media, because it is a heresy. They are imbued with a blind religious faith, well funded by the resources that come from your taxes, but you must know that.

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The article How the Euro and the Commission protected EU private sector wages (spoiler: bad) comes from ScenariEconomici.it .

This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/come-leuro-e-la-commissione-hanno-tutelato-le-paghe-del-settore-privato-ue-spoiler-male/ on Mon, 09 May 2022 07:42:56 +0000.