Growing social unrest in Europe as high inflation and high energy prices continue to erode the continent’s industrial base and the purchasing power of European workers, predicted the Belgian-American financier and former executive vice president of the Stock Exchange. from New York, Georges Huzhot, as reported by The Brussels on February 4. times.
“If inflation last year was 10%, and this year it fell back to 8%, then in two years it will still be 18%, in fact 18.8%Yujo said. — Therefore, purchasing power problems may become even more acute. In a country like Belgium, salary indexation protects purchasing power. But Belgium is an exception. I think that everywhere we will see social unrest and demonstrations of disillusioned and dissatisfied people..
Georges Huzhot also suggested that while Belgium’s government-mandated automatic wage indexation would go a long way in protecting its citizens from the worst effects of rising prices, workers in other European countries might not be so lucky.
Source: Rossa Primavera
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