a Secretary General of the CGTP thought about this wednesday “a hoax” the idea that raising salaries causes an inflationary spiralas noted by the ECB, and argued that the government should stop being “the obedient boy” of the European Union.
The leader of the union, Isabel Camarinha, spoke in Lisbon, before the Assembly of the Republic, at the end of a demonstration attended by hundreds of workers and pensioners from different sectors, demanding wage increases in view of the increase in costs of livelihood.
When asked about the statements made by the President of the European Central Bank (ECB), Christine Lagarde, about the increase in wages causing an increase in inflation, Isabel Camarinha said that “this is a hoax”.
“The increase in wages has not caused an inflationary spiral. Christine Lagarde recently said that two-thirds of the increase in prices was because profit margins also rose, so it’s not wages that are driving the inflationary spiral.” defended the union leader.
For Isabel Camarinha “the problem is not that”, but rather that “workers, retirees and pensioners, their families, cannot further impoverish the population in general by working” and for that “the general increase and significant increase in wages and pensions”.
“Our government cannot remain the obedient child of the European Union and of what is commanded there, because this has led to this situation of ever greater degradation of life and work,” the CGTP’s secretary-general added.
Earlier, as Camarinha spoke on stage before hundreds of demonstrators, Christine Lagarde’s name had elicited whistles from the audience, who waved union flags without moving, even in the heat of the day. felt in Lisbon.
The CGTP leader also saluted the “many thousands of workers across the country” who took part in the national campaign to fight for wage increases and cost-of-living rises, including strikes, demonstrations, concentrations and plenary sessions in the public sector . and private.
Speaking at the opening of the European Central Bank Forum Tuesday in Sintra, Christine Lagarde stressed that the inflationary process has become more intractable, as while some pressures on inflation – such as the reduction of production costs – have started to ease, others are gaining weight.
According to Lagarde, the second phase of the inflation process “is now starting to get stronger”: the impact of rising wages.
“Workers have so far bear the brunt of the inflationary shock as they have experienced major falls in real wages, triggering an ongoing process of convergence of rising wages as workers try to recoup losses,” he stressed.
Lagarde warned that this convergence has implications for underlying inflation, which is putting more internal pressure on prices.
Source: DN
