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FRANKFURT, Sept 18 (Reuters) - The European Central Bank does not tolerate knock-on inflation effects on wages and consumer prices, ECB Executive Board member Juergen Stark wrote in a German newspaper on Thursday.
In a column in the Rheinischer Merkur, he urged unions and employers to take the ECB's goal of inflation of just under 2 percent into account in wage negotiations, not the current high inflation rate.
Stark said it would be fatal for current high inflation -- running at 3.8 percent in August -- to take hold in the minds of the public and of businesses.
"Anyone who nevertheless pushes through higher wages and prices creates the basis for a wage-price spiral," he wrote.
"The ECB does not tolerate second-round effects."
(Reporting by Krista Hughes) Keywords: ECB/STARK
tf.TFN-Europe_newsdesk@thomson.com
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