Local view for "http://purl.org/linkedpolitics/eu/plenary/2014-03-12-Speech-3-025-000"
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"en.20140312.5.3-025-000"2
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"Mr President, to find out what a meeting is about, it is sometimes necessary to put together different sources as though they were pieces in an intricate jigsaw. The agenda of the forthcoming meeting refers to the European Semester which, among other things, includes inspection by the Commission of reform programmes, including reforms of the labour market. The agenda also mentions industrial competitiveness and the importance of a strong and competitive industrial base as a driver for economic growth and jobs.
If we refer back to a meeting of ECOFIN, held on 16[nbsp ]February[nbsp ]2012, about the European Semester of that year, we find that ‘reforms need to focus on labour markets – in particular wage-setting mechanisms – to ensure efficient adjustment of labour costs’. What does all this mean? It means that a relatively high-wage economy, or group of economies, embracing the ideology of globalism and the process of globalisation, must drive down wages to compete with the emergent economies."@en1
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