Brazil's Central Bank on Strike

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Posted on: August 20, 2012 - 8:35pm

From the "You can't make this stuff up" file - Brazilian central bank workers are on strike, demanding wage increases to keep up with the inflation they caused.

http://www.bloomberg.com/news/2012-08-08/brazil-central-bank-work-stoppage-tests-rousseff-budget-rigor.html

Naturally, the Bloomberg article gets cause/effect completely wrong (they're only an economics/business news firm, after all), but the irony is delicious nevertheless.

"The central bank union is demanding an average pay increase of 23 percent to compensate for inflation since June 2008," Belsito said. The union may call a longer strike later this month, he added. The strikes have raised concern about whether the Rousseff administration will be able to contain demands for wage increases of as much as 30 percent, which could fuel inflation and add to already rising government spending this year...

 

 

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