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Nathan, Hervé

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Marianne - France | 05/06/2014

Raising salaries better than cutting interest

A completely different approach is needed in the fight against deflation, the liberal weekly Marianne believes: "If there's a threat of deflation, the Eurozone governments' policy of cutting salaries and budgets is to blame. ... The simplest, quickest and most efficient solution is not to make cheaper money available, but to increase buying power so that consumption strengthens the economy and drives up prices. ... But even simpler than that would be to just raise salaries. ... Rising salaries and prices, shrinking deficits, new export markets for products, new jobs. ... That's what progress looks like. It's time to remember the meaning of this word."

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