Sunday December 21, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Troika helped to avoid the worst, but flawed structure harmed recovery, MEPs find

The European Parliament on Thursday voted on two resolutions on separate inquiries conducted by Euro MPs into the way in which the troika of experts from the European Commission, European Central Bank and International Monetary Fund handled the bail-out programs for Greece, Cyprus, Portugal and Ireland.

With a vote of 448 to 140 and 27 abstentions, the European Parliament approved the findings of an inquiry by the Economic and Monetary Affairs Committee's drafted by Othmar Karas (EPP, Austria) and Liem Hoang-Ngoc (S&D, France). The conclusion of the inquiry, published on the Europa website, found that while the troika helped the four EU countries through the crisis and prevented it from getting worse, its flawed structure and working methods hindered national "ownership" and compromised transparency and accountability.

The MEPs also voted on the resolutions from an inquiry conducted by the Employment and Social Affairs Committee's, authored by Alejandro Cercas (S&D, Spain), which deplored the widespread negative impacts that troika-inspired reforms had on employment and advocated revising the measures put in place. The resolution was approved by 408 votes to 135, with 63 abstentions.

The inquiry findings were also critical of the troika's organization.

"The three independent institutions of the Troika had an uneven distribution of responsibility between them, coupled with differing mandates, as well as negotiation and decision-making structures with different levels of accountability, all resulting in a lack of appropriate scrutiny and democratic accountability as a whole," said the text. National parliaments were also too often left out, it added.

EU finance ministers, particularly in the Eurogroup, are also blamed for "failing to give clear and consistent political pointers to the Commission and for failing to shoulder their share of responsibility in their capacity as final decision-taker."

ekathimerini.com , Thursday March 13, 2014 (14:45)  
Greek PM offers compromise solution with elections by end-2015
Environment Ministry to reconsider controversial bill
Corfu to host country’s first hydroplane strip
Political upheaval sharpens after bribe claims with threats and insinuations
Agenda
MONDAY Listed companies Public Power Corporation, Texapret and Edrasi will hold general shareholders’ meetings. The Environment, Energy and Climate Change Ministry holds an event in Corinth,...
Workers rush to get early retirement
Nine out of 10 workers who retired in the last four months who had belonged to the former special funds of banks and state corporations that have now been incorporated in the Social Security...
Inside Business
BASKETBALL
Explosive Barca unfazed by Panathinaikos, bomb scare
Panathinaikos lost 80-67 at home to Barcelona on Friday in a rather meaningless game at the end of the first group stage of the Euroleague, but the encounter will be remembered for the bomb ...
SOCCER
Abidal cuts short playing career at Olympiakos
Former France and Barcelona defender Eric Abidal announced his retirement from football on Friday, a day before his last match. Abidal said he will finish after playing for Olympiakos agains...
Inside Sports
INTERVIEW
‘Crisis of confidence will come back again and again,’ says Thomas Piketty
He’s treated like a rock star wherever he goes to lecture. His book “Capital in the 21st Century,” a study on income and wealth inequality from the 18th century to the present, recently tran...
COMMENTARY
Who lost Greece
If Greece collapses much will be said about where the fault lies. Sure, we all know the failings of Greek politicians. That said, much of the blame lies with outsiders who pushed Greece beyo...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Agenda
2. Greek PM offers compromise solution with elections by end-2015
3. Environment Ministry to reconsider controversial bill
4. Corfu to host country’s first hydroplane strip
5. Political upheaval sharpens after bribe claims with threats and insinuations
6. Police gets new communications system
more news
Today
This Week
1. Greek PM offers compromise solution with elections by end-2015
2. Who lost Greece
3. ‘Crisis of confidence will come back again and again,’ says Thomas Piketty
4. Snubbing the moderates
5. Agenda
6. Get your facts straight
Today
This Week
1. Samaras summons bond vigilantes with euro exit talk
2. A friendly yet firm message from Pierre Moscovici
3. Europe's drama in Greece needs final act to avoid tragedy
4. High stakes
5. On the edge but not gutless
6. Gap between SYRIZA and New Democracy closing, says poll
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.