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Look who’s talking: ECB fires a direct warning to workers on wages

David Chance


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Alan Blinder, professor of economics at Princeton and a former vice chairman of the Federal Reserve, says many have negligible knowledge of monetary policy. Photograph: Andrew Harrer/Bloomberg

Alan Blinder, professor of economics at Princeton and a former vice chairman of the Federal Reserve, says many have negligible knowledge of monetary policy. Photograph: Andrew Harrer/Bloomberg

Alan Blinder, professor of economics at Princeton and a former vice chairman of the Federal Reserve, says many have negligible knowledge of monetary policy. Photograph: Andrew Harrer/Bloomberg

Alan Blinder, professor of economics at Princeton and a former vice chairman of the Federal Reserve, says many have negligible knowledge of monetary policy. Photograph: Andrew Harrer/Bloomberg

Alan Blinder, professor of economics at Princeton and a former vice chairman of the Federal Reserve, says many have negligible knowledge of monetary policy. Photograph: David Paul Morris/Bloomberg

Alan Blinder, professor of economics at Princeton and a former vice chairman of the Federal Reserve, says many have negligible knowledge of monetary policy. Photograph: David Paul Morris/Bloomberg

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Alan Blinder, professor of economics at Princeton and a former vice chairman of the Federal Reserve, says many have negligible knowledge of monetary policy. Photograph: Andrew Harrer/Bloomberg

The European Central Bank has a message for you and it is not a subtle one: don’t even think of asking for more pay to cover your rising living costs or we will keep on raising interest rates until it really hurts.

In a bid to get its policies across directly to the 340 million people living in the 19 countries of the eurozone, the ECB has fired up its dormant blog which has gone from two postings prior to July to six now, including this warning from bank president Christine Lagarde.


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