The social partners were unable to agree on a reform of the labour market, the Zapatero government, pressed to act by the European Commission and the IMF presented Friday his own initiative to liberalise the labour market. The text must be discussed, these days, with the opposition parties, before be adopted Wednesday by the Council of Ministers in the form of a decree law and then be submitted to the Parliament. Its main lines, whose ambition is to unblock the labour market in a country with more than 4.6 million unemployed, like the employers or the unions, which dangle more than ever the threat of a general strike if the text, applicable at the end of the month, remained in the State.
40 of the young unemployed
The Government project is flexibility a labour market marked by a strong duality between indeterminate contracts, currently hyperprotégés with compensation of layoffs of 45 days per year of seniority and a maximum of 42 monthly payments, and the CSD, no protection no and affecting 30 of the population active. The text proposes to bring to 33 days per year of seniority and 24 monthly payments the amount of severance with the support of 8 days ' seniority by the wage guarantee fund, which currently displays a surplus of 3.9 billion. The provision is not clearly stated, but the Minister of labour suggests the possibility of back severance to 20 days per year of seniority with a maximum of 12 months, the amount which should fulfill business loss six months in a row. Moreover, the State monopoly in the job market would be abolished.
In return, the Government proposes to limit the contract term to two years with a possible extension of twelve months and gradually here to 2014 the amount of allowances from 8 to 12 days of wages per year of seniority. Age allowed for training contracts for young people, with more than 40 unemployment, would be increased to 24 years. Following the German example, the use of partial unemployment would be facilitated and a savings Fund (custom and agreed by the companies through the workplace of an employee, as it exists in Austria) may be established from January 2012.
While José Luis Rodriguez Zapatero ensures that this new device will "benefit the workers and stabilize employment", the unions see especially a machine to terminate the employment of low-cost. Employers condemned the restrictions imposed on CSD and recalls that these are the businesses that finance the guarantee fund salary, expected to help resolve the severance pay. Supported by the simultaneous announcement of an acceleration of the restructuring of Spanish savings banks with the spectacular merger Caja Madrid-Bancaja ("Les Echos" of June 11), financial markets have reacted positively, ignoring a rumour that Brussels was preparing to come to the aid of the Spain. Tension declined on the debt market and the Madrid stock market jumped 4 Friday. So with underlying inflation rose by 0.2 in may for an overall price increase of 1.8, the threat of deflation seems to move away.
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