SIPTU blasts IMF's wage stance

SIPTU has blasted the International Monetary Fund's stance on Irish wage agreements.

The union says the IMF has no authority to prejudge the outcome of negotiations on the second phase of Sustaining Progress.

SIPTU general president, Des Geraghty, was responding to the IMF's annual review of the Irish economy.

In their review the IMF stated that "wage growth must moderate in order to preserve external competitiveness and avoid risks to output and employment.

"Real wage declines may need to be accepted in that phase, especially in the public sector and publicly-owned enterprises."

However, SIPTU countered today that the value of real wages has been constantly undermined by increased inflation, higher PRSI charges, abnormally high houses prices and increased insurance and health care costs.