ECB chief says wage restraint remains 'important'

European Central Bank president Jean-Claude Trichet said in an interview published Monday 26 February wage restraint in Europe remains important.

"Wage restraint is and remains important. This applies not only to Germany, but all of Europe," Trichet told German weekly news magazine Focus in an interview.

He said the moderate increase in wage costs in the past years was "one of the most important factors" behind the increase in employment and the drop in unemployment, according to Focus.

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