The seriousness of the economic crisis should prevail upon financial stability in the short term. We accept the recommendations of reducing and improving the public spending quality better than the one about tax increases.
In countries like Spain (in France it is even higher) where companies’ contribution to the Social Security is +25% (18% in Germany), a downwards labor cost revision seems urgent and reasonable. Otherwise, and mostly in the case of Spain, there is an open invitation to informal employment.
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