…metal worker, that is.
They agreed to their biggest wage hike in 20 years over the weekend.
Why does that matter, you ask? Because the metal workers set the standard which all the other unions base their pay packages against. IG Metall members will get a 4.3% raise this year, well above the rate of inflation.
It looks as though the German government is comfortable accepting a bit of wage inflation domestically while the rest of the euro zone flounders in a deflationary soup.