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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

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