Translation of "Unit purchasing power " (English → French) :

24. Welcomes the ECB’s call on Member States to push ahead with labour market reforms, in order to improve competitiveness, raise potential growth, generate employment opportunities, increase inclusivity and optimise the conditions for businesses to create jobs; believes that any such measures should not be to the detriment of job quality and should not lead to increased job insecurity; recalls the fact that restoring the EU’s competitiveness through an excessive adjustment of unit labour costs via salary reductions has sharply eroded the purchasing power ...[+++] of many EU workers, lowered household incomes and depressed internal demand, further fuelling unemployment and social exclusion, particularly in those countries hit hardest by the crisis; underlines the fact that wages are not merely a tool for economic adjustment, but are above all the income on which workers need to live; calls on the ECB to ensure that recommendations in the field of wages do not increase in-work poverty or wage inequalities within Member States, or harm low-income groups, but are instead aimed at addressing labour market fragmentation;

Purchasing power parities (PPPs) are conversion factors that allow prices in different countries to be expressed in directly comparable units.

(3) Article 5(1) of Council Regulation (EC) No 1083/2006 of 11 July 2006 laying down general provisions on the European Regional Development Fund, the European Social Fund and the Cohesion Fund provides that the regions eligible for funding from the Structural Funds under the convergence objective shall be regions corresponding to level 2 of the common classification of territorial units for statistics (hereinafter NUTS level 2) within the meaning of Regulation (EC) No 1059/2003 of the European Parliament and of the Council, of 26 May 2003whose gross domestic product (GDP) per capita, measured in ...[+++]purchasing power parities and calculated on the basis of Community figures for the period 2000 to 2002, is less than 75 % of the average GDP of the EU-25 for the same reference period.

1. The regions eligible for funding from the Structural Funds under the Convergence objective shall be regions corresponding to level 2 of the common classification of territorial units for statistics (hereinafter NUTS level 2) within the meaning of Regulation (EC) No 1059/2003 whose gross domestic product (GDP) per capita, measured in purchasing power parities and calculated on the basis of Community figures for the period 2000 to 2002, is less than 75 % of the average GDP of the EU-25 for th ...[+++]e same reference period.

We could no doubt mention many examples of this, but allow me to cite, as one such example, central-eastern Europe’s power generating units, which are not infrequently more than 40-50 years old, or the fact that, in purchasing power parity terms, a Hungarian citizen today pays twice or three times as much for electricity as the citizens of some of the older Member States.

In particular, but not only, via three main channels: first, by preserving and bolstering consumers' purchasing power, which is good for consumption, and therefore good for growth; second, by enhancing the confidence of savers who accept lower market interest rates, which is good for investment, and therefore good for growth; third, by limiting the rise in unit production costs, all other things being equal, which sustains business competitiveness and is therefore good for growth.