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Luxembourg rejects Big Two’s bid to lower eurozone wages

Luxembourg Prime Minister Jean-Claude Juncker came out on Friday against French-German proposals to remove the indexing of wages to inflation across the 17-nation eurozone.

“I can’t really detect a reason why abolishing the indexation of wages should improve the competitivity of my country or of the euro area,” Juncker, who leads the Eurogroup of finance ministers, said after an EU summit considered an outline set of reforms put forward by Berlin and Paris.