Existing work on wage bargaining (as exemplified by Cukierman and Lippi, 2001) typically predicts more aggressive wage setting under monetary union. This insight has not been confirmed by the EMU experience, which has been characterised by wage moderation, thereby eliciting criticism from Posen...

Analyses minimum wage developments in the last ten years or so in 14 of the EU-27 countries and in Turkey. Considers the role of increased mobility of goods and services, capital and labour, and the issue of harmonization between individual member States