EU parliament to probe bailout troikas

EUObserver reported on the 28 October 2013 that Members of the European Parliament (MEPs) dealing with economic and monetary affairs were to launch an inquiry into the 'non-transparent' work of the 'Troika' - European Commission, European Central Bank and International Monetary Fund officials overseeing spending cuts in bailout countries.

MEPs laid into top European Central Bank and European Commission staff over the working methods of the Troika at the Economic and Monetary Affairs Committee meeting on the 5 November 2013. They demanded details of how Troika decisions were taken and what lessons had been learnt. They also sharply criticised the often mistaken economic forecasts behind the economic reform programmes demanded of Greece, Cyprus, Ireland and Portugal.

• Primary Source

ESO: Background information: Troika on the brink of implosion http://www.europeansources.info/record/troika-on-the-brink-of-implosion/

EUObserver, 06.11.13: Troika officials admit errors, as criticism mounts http://euobserver.com/economic/121993

Deutsche Welle, 06.11.13: Troika officials admit errors, as criticism mounts http://dw.de/p/1AD1R

ESO: Background information: Rehn and Reding clash on troika’s future http://www.europeansources.info/record/rehn-and-reding-clash-on-troikas-future/

European Parliament: Press Release, 05.11.13: MEPs incensed over Troika crisis management http://www.europarl.europa.eu/news/en/news-room/content/20131104IPR23615/html/MEPs-incensed-over-Troika-crisis-management

Blog: Matisak's Blog, 07.11.13: What to do with Troika? http://matisak.wordpress.com/2013/11/07/what-to-do-with-troika/

---