MONETARY UNION: SOME UNFAVOURABLE ADJUSTMENTS FOR THE EMPLOYMENT AND WAGE RELATIONSHIP

The European Monetary Union which completes the process of economic, monetary and financial globalization in the EU, does not necessarily result in an improvement in labour ans salary relations, as suggested by the centres of power. The restrictions on macroeconomics policy, the anti-inflationary obsesion of the European Central Bank and the governments and the new competition imperatives which derive from this project direct adjustments towards the labour market. The present dilemma can therefore be seen as follows terms: either unemployment or flexibility in labour and salary relations. In addition, when efficiency and profitability are weighed against the cost of social policies, the foundations of the Welfare State and the possibility of a greater social cohesion in Europe are undermined.

Journal: 
6
Authors: 
Francisco Rodríguez Ortiz
Attached file: 
Sección: 
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