Spain not interested in productivity

Spainish president Rodriguez Zapatero has been meeting with German Chancellor, Angela Merkel, to discuss reforms necessary to address the battered Spanish economy. One of Merkel’s suggestions, is that Spain adopt policies similar to those in Germany, which tie salary increases to productivity and profit, rather than inflation.

That suggestion, of course, didn’t go over too well in Spain. In particular, I love this quote from Arturo Fernández, vice president of the CEOE:

“Productivity is more a German interest, than a Spanish one.”

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