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Headlining with "EU seeks sanctions for excessive salaries," Die Presse reports on Commissionner of Economic and Monetary Affairs Olli Rehn’s drive to rectify economic imbalances between northern countries — i.e. Germany — and southern countries of the eurozone. The daily notes that in some member states, "trade unions have succeeded in obtaining wage levels that are not justified by productivity." The Commission is now planning to issue recommendations to countries that fail to observe European standards for competitiveness. If they fail to heed these warnings, and continue to increase public sector salaries, they will be subject to financial sanctions that could include the freezing of agricultural subsidies and cohesion funds.
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