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Europe’s Troika Should Grow Up

Pisani-Ferry, Jean, (2013) “Europe’s Troika Should Grow Up”, www.project-syndicate.org, 27 May 2013.

In early 2010, a group of men (and a few women) in dark suits landed in Athens. They belonged to a global institution, the International Monetary Fund, and to a pair of regional ones, the European Commission and the European Central Bank. Their mission was to negotiate the terms and conditions of a financial bailout of Greece. A few months later, what became known as the “troika” was dispatched to Ireland, then to Portugal, and later to Cyprus.