Glossary entry

English term or phrase:

euro club/ cost-induced slump

Spanish translation:

club del euro / depresión inducida (causada, originada) por el coste (del trabajo)

Added to glossary by Teresa Mozo
Jan 26, 2008 15:40
16 yrs ago
English term

euro club/ cost-induced slump

English to Spanish Bus/Financial Economics economia de la UE
Germany's recent history shows how hard it is for a member of the euro club to recover from a cost-induced slump. Devaluation might have been an obvious remedy, but can only be achieved by leaving the currency union. The only other solution is to drive down wage costs relative to those in competing countries. This option is also costly: Germans have paid the price in terms of high unemployment and stunted growth. Cost reduction is also painfully slow. Workers are resistant to pay cuts, so the necessary reduction in real wages relies on a long period of below-average inflation. This kind of wage discipline has underpinned Germany's revival.
Change log

Feb 8, 2008 15:41: Teresa Mozo Created KOG entry

Proposed translations

+1
58 mins
Selected

club del euro / depresión inducida (causada, originada) por el coste (del trabajo)

saludos
Peer comment(s):

neutral Krimy : No necesariamente "del euro". Existe la euro zona, los miembros euro, etc.
55 mins
agree Tomás Cano Binder, BA, CT
4 hrs
gracias
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4 KudoZ points awarded for this answer. Comment: "gracias"
1 hr

club de la moneda única europea/recesión,depresión,crisis econ. producida por la subida de salarios

Aunque la respuesta de Teresa me parece correcta, añado otra posible versión, con referencias.Saludos.
http://www.elpais.com/articulo/economia/Chipre/Malta/entran/...
http://www.pdf.lacaixa.comunicacions.com/im/esp/200612af2_es...
http://links.jstor.org/sici?sici=0030-7653(195902)2:11:1<37:...


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Note added at 1 hr (2008-01-26 17:04:26 GMT)
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Sorry, the last link is bad, but here is another good one that explains the various kinds of inflation.
http://www.time.com/time/magazine/article/0,9171,825173-2,00...

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2 hrs

club euro/desplome inducido por los costos

No veo que sea por sueldos o trabajo en la frase misma. Habla de los costos.
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