The economy, prices, wages, etc dont work in a vacuum. If oil price falls, it signals less activity in the economy. Less activity signals rising unemployment and downward pressure on wages.Then consumer prices should fall, which means people can buy more so the less need to raise wages.
On the otherhand, economies that are stuttering to grow, if wages increase this may lead to increased consumption, employment etc.
Look, nothing is a given in any economic cycle. But the topic, from the opening post, was to address the ECB dilemma of targeting 2% inflation. They chose a path of QE, which has inflated asset prices. They have since called, as have many others, the need for wage increases.
That is now occuring, and economic growth with it.
No-one declared it as a magic bullet. It is a tool. At the time this topic started, economic growth across the eurozone was subdued. Heading for a deflationary trap.I'm sure the EU has an army of economists and as I am not an economist myself I wouldn't even try. I'm not against wage increases per se, but I don't see increasing wages as a magic bullet either.
There is a time for wage increases, that can spur on economic growth. That time is now