European Central Bank President
Mario Draghi on Friday said that labour bargaining at the
company level was better than national collective bargaining
when it came to safeguarding jobs. "New micro level research
from the Eurosystem shows that firms with flexibility at the
plant-level have reduced employment less during the crisis than
those bound by centralised wage bargaining agreements, partly
because they have been more able to adjust wages to economic
condition," Draghi said in a speech in Sintra, Portugal.
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