Visitors Now:
Total Visits:
Total Stories:
Profile image
By Wired Greek (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

What is “the Troika”? Are we, Greeks, confused about our lenders?

Thursday, February 21, 2013 10:20
% of readers think this story is Fact. Add your two cents.

(Before It's News)

The representatives of Greece’s lenders, that is the International Monetary Fund, the European Union and the European Central Bank,  the so-called “Troika” come and go in Athens in regular intervals for the last three years. The word ‘Troika’ is in everybody’s lips like a junk candy. Greeks hear it some 100 times per day or read it some 50 times per day in various media outlets. Not to mention the chats among relatives, friends and colleagues. It’s all about “the Troika” and its demands on Greeks.

And yet. University students seem to have a very vague idea about what the Troika represents exactly.

How much more, when these students study at Panteion University, a university of Social and Political Sciences.

Professor for Public Administration, Donatos Papagiannis, posed to students the question, “whether the Troika was an EU institution“.

Below are the more significant answers:

“The Troika is being considered as an EU institution, as it is an economic team belonging to Germany as EU member state, that manages and monitors the financial issues of Greece. In other words, it is not a single but a mixed institution within the EU. ”

“The troika is an economic team of Germany that (unfortunately) monitors Greece. In this particular case, it is considered to be an EU institution, since Germany is an EU member state. Moreover, since the troika is a legal body, it is a European institution. ”

“The Troika members are elected by the EU member states and belong to European Central Bank. Therefore it belongs to the supranational governmental bodies. ”

“… Therefore the troika is a bank from which we borrow money to repay debt….. The troika does not belong to Europe. It is responsible for the EU external relations and it conveys only when needed.  ONLY THEN. ”

“The troika is not an EU institution, it is an independent global institution.”

*sigh*



Source:

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.