Spanish Employer Group Calls for Pay Freeze to 2014, Mundo Says

Spain’s main business group CEOE will ask trade unions to freeze wages in Spain until 2014, El Mundo reported, citing unidentified people with knowledge of the matter.

The group foresees that there will be five million unemployed people in Spain by the end of the last quarter and that job creation will not begin until 2013, the newspaper added.

To contact the reporter on this story: Sharon Smyth in Madrid at ssmyth2@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net

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