Tuesday, September 23, 2014

Carlos Costa defends early retirement for workers with low … – Reuters

Carlos Costa defends early retirement for workers with low … – Reuters

                 


                         
                     

                 

 
                         

The governor of the Bank of Portugal, Carlos Costa, defended on Tuesday in Lisbon the need to find mechanisms of early retirement for workers with “long careers”, but that did not adapt to the new working conditions.

                     


                         At the seminar ‘The need for a robust growth for the post-troika’, organized by the Forum for Competitiveness and held this afternoon in Lisbon, Carlos Costa defended mechanisms retirement of workers with “long careers” and income and decreasing levels of productivity.

“It would be necessary to think (…) how to find appropriate ways of ‘pre-pensionamento’ these workers, for reasons relating to its formation, its long history of work and even for reasons relating to own inadequacy to new conditions [work], especially now attending health centers for medical licenses and other mechanisms of temporary absence, “said the governor.

Carlos Costa suggested this type of mechanisms ‘pre-pensionamento’ as a possible answer to the problem of structural unemployment in Portugal, whose absorption “will take time”, since it does not solve “the simple reversal of the economic cycle.”

During the intervention , the head of the central bank also said that the existing European institutional model “is not sufficiently integrated” and “does not have a decision-making center think the whole,” which creates “two biases that systematically delaying Europe’s response”: the inertia the response and the fact that countries with larger to give priority to their position.

Carlos Costa has said it takes “a decision center able to anticipate problems and minimize the costs of adjustment” adding that the process of European integration is an “inherent to the process of sustainable development of the Portuguese economy.”

 
                     
                 

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