And if not?
Wage talks tend to develop their own internal dynamics and may – despite the
first positive signs of a solution – still hit a wall: That would mean that talks are
declared failed by the unions. This would likely be followed by a strike vote
among union members, which – if successful – could lead to fully fledged
strikes. The last time such a scenario unfolded was in 2003.
However, given the overall very cooperative stance of industrial partners in Germany, we see the
likelihood of such a scenario as clearly below even.