inefficient labour

An economic analysis of the law holds very simply that any intervention in a contract between two parties creates an inefficient labour market.

Inefficient labour markets are due to mismatches between available jobs and the unemployed and an immobile labour force.

I believe the crisis has more to do with deep-rooted problems in some eurozone Member States than with speculators: Member States with fiscal indiscipline, inefficient labour markets and massive debts in the private sector.