Central Banks
ECB Staff Union ‘Not Happy’ With Pay Hike Below Record Inflation
- Labor representative threatens protests on lack of negotiation
- Conflict comes as ECB officials closely follow wage growth
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Staff representatives at the European Central Bank are disappointed that a planned pay rise doesn’t make up for inflation that’s currently five times the official 2% target.
The ECB’s trade union — known as the International and European Public Services Organisation, or IPSO — wants to amend a 4.07% salary increase set to take effect in 2023. It follows a 1.48% hike for 2022 — less than half Germany’s rate of consumer-price gains the previous year.