Chancellor Olaf Scholz wants to talk to employers and unions about how to deal with high inflation. Even if wages are not directly negotiated there, the talks could set the tone for the next wage rounds.
Olaf Scholz calls his call an “unusual step”. The Chancellor announced a “concerted action” on Wednesday. A term with a meaningful history that had almost been forgotten.
What is the “concerted action” against inflation about?
A “concerted action” first took place during the first grand coalition in the late 1960s. At that time, the SPD Economics Minister Karl Schiller called politicians, business associations, trade unions and the Bundesbank together for talks.
Source: Stern
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