‘Independent’ pay review bodies exist to disguise government responsibility for slashing wages.
As long as the system is closed and the regulators powerful, they can restructure liabilities at will to prevent a collapse. More likely is a very long and costly financial adjustments as Beijing slowly cleans […]
It appears that wealthy EU nations can afford to have einvironment ambitions, the poorer EU nations cannot. The EU should be about shared ambitions, which translates into shared costs. Read here