The European Central Bank supports Germany's Bundesbank in its appeals for higher wage deals in Germany, Der Spiegel magazine quoted ECB Chief Economist Peter Praet as saying on Sunday. Low wage agreements were needed in some crisis-hit countries in the euro zone to bolster competitiveness, the magazine quoted Praet as saying. By contrast, in countries like Germany where "inflation is low and the labour market is in good shape", higher earnings increases were appropriate, Der Spiegel reported him to have said. This would help bring average wage developments in the euro zone in line with the ECB's inflation target of ... (full story)