Secondly, uncertainties related to future labour and pension income and the adverse wealth effects of the prolonged stock market decline dampened consumers confidence in the euro area.

Labour market segmentation and polarisation give rise to significant market inequalities in a number of countries, and tax and benefit systems can create disincentives to work, especially for those on low incomes or for second-earners.

Secondly, uncertainties related to future labour and pension income and the adverse wealth effects of the prolonged stock market decline dampened consumers confidence in the euro area.

Second, income security, is pursued in three ways: 1/ Through a generic income policy, that indexes minimum wage and social benefit to the average wage increase, assuring that everyone benefits from an increase in prosperity.

If the legislation which the competent institution of a Member State administers requires a salary to be taken into account for the calculation of benefits, where the first and second subparagraphs of Article 45 (8) have been applied, and if, in this Member State, only periods of full unemployment with benefit in accordance with Article 71 (1) (a) (ii) or the first sentence of Article 71 (1) (b) (ii) are taken into consideration for the payment of pensions, the competent institution of that Member State shall pay

"3 (a) For the purpose of determining the right to benefits under the legislation of a Member State, listed in Annex III, which makes the granting of invalidity benefits conditional upon the person concerned during a specified period having received cash sickness benefit or having been incapable of work, where a worker who has been subject to that legislation suffers incapacity for work followed by invalidity while subject to the legislation of another Member State, account shall, without prejudice to Article 37 (1), be taken of: (i) any period during which, in respect of that incapacity for work, he has, under the legislation of the second Member State, received cash sickness benefits or, in lieu thereof, continued to receive hi ...[+++]s wage or salary,