European unions plan protest over living costs


European labor unions hope 35,000 people will join a street protest over worsening living standards when finance ministers meet in Slovenia next week.

“Europe’s workers all face the same problems – shrinking purchasing power, wage moderation and wage inequalities,” the European Trade Union Confederation (ETUC) said in a statement. Finance ministers and central bankers from the 15-country euro zone meet in Slovenia on April 4 and will be joined by their counterparts from the rest of the European Union’s 27 countries on April 5. The protest will take place in Ljubljana, Slovenia’s capital. “At least 35,000 union members from across Europe will take part, including European trade union leaders,” the umbrella body for trade unions across the continent said on Thursday.

Inflation has soared in recent months primarily because of record world prices for basic food commodities such as wheat and milk, and oil. The annual inflation rate hit a record 3.3% in the euro zone in February and 3.4% in the EU as a whole. In Slovenia, the meeting’s host which holds the EU’s rotating presidency until the end of June, it hit 6.4%.

The ETUC often accuses the European Central Bank of an overly harsh interest-rate policy in the euro zone and has told ECB boss Jean-Claude Trichet to stop warning against sizeable pay rises. Soaring food prices have sparked riots in poorer regions of the world, notably this month in Cameroon, where President Paul Biya responded by raising state salaries and suspended customs duties on fish, rice and cooking oil. (Reuters)


November PMI Indicates Slower Manufacturing Sector Expansion Analysis

November PMI Indicates Slower Manufacturing Sector Expansion

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

BDPST Equity Acquires Minority Stake in Waberer's Deals

BDPST Equity Acquires Minority Stake in Waberer's

Hard Rock Hotel Opens 'Star Chalet' for Winter Season Hotels

Hard Rock Hotel Opens 'Star Chalet' for Winter Season


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.