Thursday October 23, 2014 Search
Weather | Athens
24o C
14o 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)  
Cyprus seeks EU response over Turkey´s EEZ violation
Thirteen indicted for inmate torture
Samaras, Venizelos eye deal with troika on bailout exit by Dec 8
Campaigners call for more road safety at deadly crash site
Athens weighs its LNG and CNG options
Energy Minister Yiannis Maniatis met on Wednesday with officials from six leading shipping companies in the liquefied natural gas (LNG) sector, as he is weighing the possibility of Greece as...
Greece ranks among global leaders in tourism growth
Tourism in Greece has done particularly well in 2014, having grown 16.7 percent year-on-year, while the head of the World Tourism Organization stressed on Wednesday the added value this grow...
Inside Business
SOCCER
Roberto´s heroics make Kasami´s goal count
Pajtim Kasami’s goal and Roberto’s heroics in goal saw Olympiakos claim one of the biggest wins in its history on Wednesday downing Italian champion Juventus 1-0 to boost its chances of reac...
SOCCER
Third-division Iroditos punished heavily after fan death
Greek third division team Irodotos has been docked 15 points and ordered to play 10 matches behind closed doors following the death of an Ethnikos Piraeus supporter, the Hellenic Football Fe...
Inside Sports
COMMENTARY
Careful what you wish for
Everyone is in a rush to become prime minister in this country, as if they have not learned a single thing from its political history. While still in opposition, PASOK’s George Papandreou ma...
EDITORIAL
Taking care of our key industry
It’s time to face facts: Tourism is the country’s heavy industry. The sector’s considerable contribution has served as a stabilizing factor for the local economy, essentially placing the cou...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Roberto´s heroics make Kasami´s goal count
2. Athens weighs its LNG and CNG options
3. Greece ranks among global leaders in tourism growth
4. Global oil price drop sends local fuel prices back to 2010 levels
5. Buy big house, become a citizen
6. Cyprus seeks EU response over Turkey´s EEZ violation
more news
Today
This Week
1. At least 11 banks to fail European stress tests, three in Greece, report says
2. Cyprus to block Turkey's EU talks after EEZ violation
3. EU’s Juncker wins Commission-team approval with investment vow
4. Juncker’s EU commission team set for parliamentary green light
5. Taprantzis resigns from privatization agency TAIPED
6. Fallen tree, smashup cause traffic jams in Athens
Today
This Week
1. Istanbul skyscraper casts shadow over Greece's banking ambitions
2. Coalition shooting itself in the foot
3. Greece’s closed society is central to its current malaise
4. Greece must stick to reforms, says Schaeuble
5. The past, present and future of the Greek debt crisis
6. Samaras’s crumbling Greek exit lacks backing from economists
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.