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Troika under scrutiny: European Parliament joins CSOs

Bodo Ellmers

29 Jan 2014 17:24:44

The times when the Troika of the European Commission, European Central Bank (ECB) and International Monetary Fund (IMF) could operate in the dark and on extralegal grounds seem almost over. The European Parliament just released its draft enquiry report on the role and operations of the Troika with regard to the euro area progamme countries. The report criticises the “generally weak accountability” of the Troika and the “lack of transparency” in negotiations with programme countries. The Parliament points out that there was no appropriate legal basis for setting up the Troika, and that the programme conditions did not pay respect to the Charter of Fundamental Rights of the European Union.  This report – welcomed by Eurodad - complements recent civil society initiatives to hold ...