Tuesday, April 17, 2012

Uh oh: European Central Bank Employees Demand Pensions Be Indexed to Inflation

Hmmm...ECB technowonks want inflation protection...hmmm.
From Economic Policy Journal:
Yup, the technocrats, deep in the bowels of the European Central Bank, who are the mechanics of inflation, now want to be protected against the inflation they create.

Germany's Spiegel online reports (via Google transaltion)

"Unfortunately, the pensions of the ECB's employees are not protected against inflation," said Carlos Bowles, a spokesman for the ECB Staff Committee of the ECB, the "Frankfurter Allgemeine Zeitung". "We do not understand why the leadership of the ECB refuses to protect our pensions against inflation."