Suppose a high minimum wage, by pressing on the structure of pay differentials, raises wage growth and hence inflation across the economy.

ECONOMIST: Economics focus

Foreign policy blunders, our rigid tax structure, lower wage scales abroad, and failure of regulators to monitor intensively brokers and big banks.

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"A tax structure in which wage earners, pensioners and a small percentage of companies bear the overwhelming burden is not sustainable, " he says.

CNN: Portugal braced for 'fiscal earthquake'