Corbacho dismisses “radical” proposal from the CEOE to cut the salaries to reduce unemployment

In an event organized by the PSC of Baix Llobregat, in the town of Sant Feliu de Llobregat, Corbacho was responding to the president of the Economic Commission of the CEOE, José Luis Feito, who yesterday defended wages decreases, and said that that such a move will save jobs.

Corbacho dismisses "radical" proposal from the CEOE to cut the salaries to reduce unemployment

Spain’s Minister of Work and Immigration, Celestino Corbacho, today rejected the arguments of the CEOE that cutting salaries will achieve a reduction in unemployment, and accused the employers of submitting a "radical and extreme" proposal.

In an event organized by the PSC of Baix Llobregat, in the town of Sant Feliu de Llobregat, Corbacho was responding to the president of the Economic Commission of the CEOE, José Luis Feito, who yesterday defended wages decreases, and said that that such a move will save jobs.
The Works minister stated that the right way is that employers and trade unions seek agreements for the next three years. "An agreement that guarantees that wages will not lose purchasing power" said Corbacho, who explained that the we should go through the path of restraint but not radical ideas that give people a feeling of uncertainty.

The minister noted that in Spain, average salaries are below the European average, and held that to reduce unemployment the economy needs to revive and get credit flowing "more intensely" for families and small enterprises.



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