regarding the unit labour cost aspect, it is indeed not only a question of moderating them (what you tag the "business perspective" in view of increasing competitiveness).

In fact, the argument also holds the other way round. See e.g. the debate on too low unit labour costs in Germany recently, which not only dampened domestic demand, but also increased the problem of competitiveness e.g. for Italy and others.
This of course cannot be ordered on anybody, but we definetely need to improve dialogue among the three pillars fiscal-monetary-wage policy, and work on the need that all actors increasingly interpret their perspectives in the EMU environment.

Best, Daniela