Germany’s central bank has annoyed employers by getting involved in wage negotiations. The challenge for wage tariff partners in finding an appropriate formula for a particular industry is a sophisticated, complex process, according to the federal employers association of the chemical industry.
“General pronouncements of third parties are usually not helpful,” said Oliver Zander, managing director of the metalworking industry employers’ association. The Bundesbank’s initiative is inappropriate, he added.
The criticisms came after a meeting between the Bundesbank and the German trade unions association in late June. At the meeting, the Bundesbank delegation advised the unions to be less restrained in future wage tariff negotiations and to use the room to maneuver created for them by inflation and productivity developments. A hidden agenda: Higher wages and salaries would affect the inflation rate and remove the danger of deflation.