‘The best that could happen to Greece’

Consisting of representatives of the International Monetary Found (IMF), the European Central Bank (ECB) and the European Commission, the Troika “was supposed to become an auxiliary government and audit court with permanent rights of intervention”. But, Martens writes, the name “Troika” and possibly even the composition of the control group will be changed. Even European Commission President Jean-Claude Juncker is said to be in favor, as the EU did not like the IMF’s involvement in its affairs, and the ECB “was never convinced of its own role” in the Troika.

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