Press Release: Troika helped to avoid the worst, but flawed structure harmed recovery

The European Parliament (EP) carried out an own-initiative inquiry over 2013-14 into the working of the Troika (made up of representatives of the European Commission, International Monetary Fund and European Central Bank) and its handling of the bailouts affecting Cyprus, Greece, Ireland and Portugal.

The report was completed in the spring of 2014 and the European Parliament adopted a Resolution on the report at its plenary in March 2014.

The inquiry was led by the EP's Economic and Monetary Affairs Committee, with inputs from other EP Committees.

A separate inquiry was also carried out by the EP's Employment Committee.

• Primary Source

EurActiv, 14.03.14: Parliament slams Troika, calls for a 'European Monetary Fund' http://www.euractiv.com/euro-finance/meps-call-creation-european-mone-news-534135

EUObserver, 13.03.14: MEPs: Troika undemocratic, European Monetary Fund needed http://euobserver.com/economic/123455

ESO: Background information: EU/ECB/IMF Troika needs fixing, but ministers must shoulder responsibilities http://www.europeansources.info/record/press-release-eu-ecb-imf-troika-needs-fixing-but-ministers-must-shoulder-responsibilities/

European Commission: RAPID: SPEECH/14/217: Speaking points by Vice-President Rehn on the European Parliament draft report on the role and operations of the Troika with regard to the euro area programme countries http://europa.eu/rapid/press-release_SPEECH-14-217_en.pdf

European Parliament: News: Top Stories: Troika inquiry http://www.europarl.europa.eu/news/en/top-stories/content/20140110TST32314/html/Troika-inquiry

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