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Eurozone May CPI numbers came in much higher than expectations released Tuesday confirming the soaring German and Spanish inflation reports released t
[See the full post at: Eurozone Inflation Accelerates in May to New Records, Follows German and Spanish CPI]With Inflation soaring Unions are pushing claims in Europe:’
UK: Unionized railroad workers in the U.K. have begun their largest strike in 30 years.
Germany: largest #metalworkers’ union #IGMetall is calling for an 8% wage hike.
IG Metall justifies its recommendation, which was made by the union’s executive board to the collective bargaining districts for negotiations with employers, by big profits of carmakers, including Mercedes-Benz MBGn.DE and BMW BMWG.DE.
The union said that the wage increase demand would not be able to offset the rapid rise in costs for power and gas, adding that this required a further scheme by the German government to ease the burden on households.
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