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A needle in a haystack: key terms in official Troika documents


Following four months of inquiry, the European Parliament is set to discuss and vote on two resolutions: (i) regarding the Troika and its operations, and (ii) on Troika-inspired reforms and their impact on employment.

The report on the committee's inquiry into the workings of the Troika, drafted by Othmar Karas (EPP, AT) and Liem Hoang-Ngoc (S&D, FR), criticizes among other things how the Troika took a "one-size fits all" approach, without paying due consideration for differing circumstances in different programme countries. However, due to the detailed nature of conditionality and the copiousness of European Commission documents (without considering the parallel IMF reports), it is very hard to assess whether programmes were broadly framed in different ways, on what issues the attention of the Troika was directed, and how this attention shifted in time, as macroeconomic developments evolved. In Greece alone, the Commission staff produced over 1800 pages, in which it discussed the programme developments and its evolving conditionality.

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Tratto da www.bruegel.org