14/12/2007 (Agence Europe) - In a press release from the European Trade Union Confederation (ETUC) issued on 10 December, ETUC explains that in order to avoid a new fall in the rate of growth, interest rates should be cut rather than be raised. Expressing surprise that the European Central Bank (ECB) Governing Council had considered the option at its 6 December meeting of increasing interest rates in the eurozone (see EUROPE 9559), ETUC said the ECB's attitude was not very constructive. Reiner Hoffmann, the deputy secretary general of ETUC, said the ECB presidency was calling for an end to all systems linking pay with price increases, but 99% of these pay indexing systems have already disappeared in the eurozone and there is not any risk of inflation due to pay increases. (A.B.)