If being part of EMU and adopting the single currency will increase competition, will companies cut jobs with the aim of increasing their competitiveness?
The adoption of the euro will definitely increase competition. However, the fact remains that competitiveness does not depend solely on the number of employees working within a company. This is because the amount of total costs accounted for by wages change from one industry to another. Companies use many strategies to increase competitiveness, such as using new technology and changes in marketing structures and practices.
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