- Nov 26, 2001
- Total Time
Interesting article in Monday's WSJ. Germany has the tuffest Labour laws in Europe. It appears the gov't has some approval process over union contracts. They will not approve a contract unless it has productivity gains to go with increases in pay. The result is the Germans have the highest wages in Europe. The lowest unemployment and the highest export trade balance. While pro-Labour countries like Spain, Greece and Portugal have the lowest wages and highest unemployment. How could this be? I am sure I will find some clarifying responses.