"The minimum wage was long due," said Carsten Brzeski, a chief economist at ING, the Cyprus Mail reported. "In the short term, the minimum wage will further stimulate the economy but in the long run, it could become a problem for international competitiveness."
"It's necessary. There is no alternative," said economist Carsten Brzeski of the ING financial group in Brussels. "But of course, politically it's a very unattractive policy choice. It clearly means that you have to push it through, [but] you will not be liked by the public and probably eventually your government will fall."