The very mention of Cola (Cost-of-living adjustment) remains a cause of concern, even anxiety, among some of those who monitor the economy ‘ from the outside’ .
This was my experience recently when interviewed by representatitives of a credit agency intent on adding Malta to its portfolio.
I needed some explaining as to how Cola cannot be reckoned as a wage-indexation, but merely as an exercise assisting in keeping low wages in real terms by factoring in a cost-of-living adjustment.
One of them smilingly remarked that our MEPs should preach it to their colleagues in the European Parliament.