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. Last Updated: 07/27/2016

German Union Settles




WOLFSBURG, Germany -- Chancellor Gerhard Schr?der welcomed a moderate pay deal struck by Germany's biggest trade union in a key state Tuesday.


The surprise deal between the powerful IG Metall union and engineering employers in North Rhine-Westphalia helped allay inflation fears in Europe and perked up the euro. It averted the threat of strikes and was expected to set a nationwide pattern.


Under the 24-month deal workers will get a 3 percent pay rise from May 1, 2000 and 2.1 percent from May 1, 2001.