Spectator on facebook

Spectator on facebook

BY JURAJ KARPIŠ

Should we freeze wages for the euro?

From being a borderline euro-skeptic, PM Robert Fico has become such a euro-fanatic that he has even proposed freezing wages in order to be sure of meeting the inflation criterion for adopting the currency. Strangely, he has in this the support of the unions, who recently got what they wanted in the draft Labour Code amendment.

From being a borderline euro-skeptic, PM Robert Fico has become such a euro-fanatic that he has even proposed freezing wages in order to be sure of meeting the inflation criterion for adopting the currency. Strangely, he has in this the support of the unions, who recently got what they wanted in the draft Labour Code amendment.

Several things are worth mentioning here. First, inflation is a function of the policy of the central bank, not of the government. Second, the criteria exist not to be skirted by cheap tricks, but as a measure of whether each applicant country is ready to adopt the euro. And finally, Slovakia should have a look at whether the existing members of the euro-zone still subscribe to its criteria, which they have so often flouted, before abandoning the crown.


Sme, February 21

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

How rock music helped bring down the totalitarian regime Video

A new film shows that Rock & Roll, forbidden in the Soviet Union, helped to end the Cold War.

Illustrative Stock Photo

Movies under an open sky feel differently than in an air-conditioned cinema Photo

The popularity of outdoor cinemas is increasing in Bratislava

Bažant Kinematograf on the Magio Pláž beach

Peter Sagan announces split with his wife Katarína

The Slovak cycling star who has a young son said “It will be much better this way”.

Peter Sagan marries Katarína, November 2015.

Top 3 news from Last Week in Slovakia Video

Slovakia to buy 14 American fighter jets.

This archive picture from 2014 shows an older model of the F-16 fighter jets.