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Plenary round-up – March II 2023

Kratki prikaz 31-03-2023

The highlight of the March II plenary session was the debate on the conclusions of the European Council meeting of 23-24 March 2023. In a formal ceremony held to celebrate the 25th anniversary of the Good Friday/Belfast Agreement, the Presidents of the European Parliament, Roberta Metsola, the European Council, Charles Michel, and the European Commission, Ursula von der Leyen, each underlined the significance of the 1998 Agreement and the importance of ensuring reconciliation between the two communities ...

Equal pay for equal work is one of the European Union's founding principles. However, the implementation and enforcement of this principle remain a challenge. On 4 March 2021, the European Commission proposed a directive to strengthen the application of the principle of equal pay for equal work between men and women, through pay transparency and enforcement mechanisms. Parliament's negotiators reached an agreement with the Council on the proposal on 15 December 2022, and that text is now due to be ...

Governments seek to protect low-income households from the risk of poverty by regulating minimum wages and setting up support programmes that include both social insurance and social assistance transfers. At their centre are guaranteed minimum income schemes as last-resort income support. While minimum income schemes exist in all EU Member States, they are not always adequate; they do not reach all those in need, nor do they motivate people to return to the labour market. In many EU countries, the ...

Wage policy in the EU is a patchwork of different national traditions and legal frameworks. As a result, minimum wage levels diverge considerably, and leave many workers unprotected. While setting minimum wages is the competence of EU Member States, the EU has a supporting and complementary role. In October 2020, the European Commission proposed a directive seeking to improve the adequacy and increase the coverage of minimum wages, while also strengthening collective bargaining as the main instrument ...

Adequate minimum wages

Briefing 19-01-2021

This briefing finds that the European Commission's impact assessment (IA), which accompanies the directive proposal on adequate minimum wages, is based on sound data and presents a sufficiently broad range of policy options. It would have been useful if the measures concerning collective bargaining and adequacy of minimum wages had been explained more thoroughly in relation to the chosen legal basis. The problem description would have benefited of using more information from the extensive annexes ...

The Proposed Minimum Wage Directive

Kratki prikaz 24-11-2020

Following a two-stage consultation of social partners launched in February 2020, on 28 October, the European Commission published its proposal for a directive on adequate minimum wages in the European Union.

This note, drawn up by Policy department A, gives an overview of in-depth analyses prepared by monetary experts for the February session of the Monetary Dialogue. The Committee on Economic and Monetary Affairs (ECON) asked the experts to prepare analyses focusing on the EU economic recovery.

We investigate the determinants of inflation in the euro area since 2000 and show that the most important determinants are inflation expectations and wage growth. Both indicators have contributed negatively to inflation since 2014 but inflation expectations less so since 2015 whereas the contribution of wage growth has remained negative. We suggest that structural reforms may have put a drag on the ability of the ECB to reach its inflation target rapidly.

Inflation has been persistently below the inflation target of the ECB despite the ongoing economic recovery in the euro area. In this paper, we analyse whether the relationship between inflation and economic activity in the euro area has changed based on a review of the literature and discuss implications for monetary policy.

The huge literature on the causes of the persistent weakness in inflation in the euro area has not identified one single key factor. Moreover, inflation has also been lower than expected in many advanced countries. Low inflation expectations seem to have played an important role in reducing wage demand, both in the US and the euro area; but a residual output gap also contributes. The concerns about low inflation seem overblown. The HICP (Harmonized Index of Consumer Prices) used to measure inflation ...