Here’s 5 things you should know at the end of this week:
Statec forecast another wage index in March alongside the postponed indexation.
The inflation rate for 2022 was confirmed at 5.4%.
Wage packets were expected to rise by 2.5%.
When will the postponed indexation take place? It will be confirmed following April’s tripartite meetings between the government and unions. We could see wages rise by 5% compared to their current rate.
Luxembourgish businessesbraced themselves for the increase of the minimum wage and 2 wage indexations.
René Winkin, director of business federation FEDIL, said businesses “will have to adapt their prices as they cannot cut their margins with every single salary increase.”
Luxembourg City’s political players and hopefuls, said they expect the battle for the City, in terms of the local elections, to ‘really kick off’ after Easter.
The president of the Chamber of Deputies, Fernand Etgen (DP) argued that it is more useful right now to focus on actual political work, saying there is still “a lot to do”, ahead of the national elections.
But with 5 months to go, and parties hoping to gain traction in the local elections, it is clear the battle has begun.
Yes, you can vote. Luxembourg’s next municipal elections are now half a year away, and the Government has made it easier than ever for as many people as possible to participate, by abolishing the residency and length-of-stay clause.
How and when to register? The deadline to register is 5pm, 55 days prior to election day, on 17 April 2023. The official non-partisan campaign will help you register.
Foreign residents: Djuna Bernard (dei Greng) said she still supports giving the right to vote to foreign-residents in Luxembourg, who she said are ‘not represented’ in our democracy.
And in Brussels, Marc Angel (LSAP) won an internal vote within the S&D political group and may succeed former Greek MEP Eva Kaili as vice president of the European Parliament.
European Elections are also coming up, in 2024, making this Election cycle a nearly-continuous 2 year election battle.
The variable rate reached 2.5% at the end of 2022.
The fixed rate was also on the rise. It was estimated at 3.33% in November.
Interested rates are expected to keep rising as the ECB continues to raise its rates and begins QE in 2023.
For the variable interest rate, this is an increase of 24 basis points compared to October (2.26%). In November 2021, the rate was 1.3%.
Fixed rates were at 1.42% at the beginning of 2022.
Less loans given out: A total of €287 million in variable rate loans were granted by banks in November, down €99 million from the previous month, and €269 million in fixed rate loans, which is €47 million less than in October, according to the Luxembourg Central Bank (BCL).
1,050 bankruptcies and 846 liquidations were declared in Luxembourg last year - a slight decrease compared to 2021.
3000 protesters stormed Brazil’s Congress on Sunday.
Initially overwhelmed, security forces eventually subdued them, after President Lula gave them extraordinary powers.
World leaders reacted in condemnation of the violent protest and in support of president Lula and democratic institutions.
Threats of fresh protests: Security was boosted in Brasilia this week as backers of ex-president Jair Bolsonaro vowed fresh protests just days after the storming of Congress shocked the Brazilian capital.
What happened on Sunday? Dubbed “fanatical fascists” by Lula, protestors clashed with police, beat up journalists, and left a trail of destruction in their wake, putting fires in multiple government buildings.
US-Brazil: Chilling similarities to the insurrection at the US Capitol on January 6, 2021 by supporters of former president Donald Trump, who claimed the 2020 election had been stolen from him, were observed.
The last 8 years were the warmest on record globally.
France, Britain, Spain and Italy set new average temperature records for 2022.
Europe as a whole endured its second hottest year ever.
Here’s why it matters: it shows the planet continues its long-term warming trend.
Tipping point of no return: Studies show that the odds of potentially catastrophic climate impacts increase significantly if warming exceeds 1.5°C compared to preindustrial levels.
Only one third of Centre Hospitalier du Nord patients received a new respirator so far. Philips issued a worldwide recall for their respiratory ventilation devices in 2022.
An estimated five million children under the age of five died in 2021, the United Nations said this week, urging health care investment in underserved communities around the globe.
Max Fosh, the beloved British YouTuber, biked through Luxembourgon a pink Barbie Bike.
Your Weekly Recap is published every Friday at noon. Read earlier versions.
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Christos Floros covers News and Politics for RTL Today @christosfloros
