MEPs: Replace troika ‘in interests of democracy’

The troika system should be dismantled and replaced with a structure that includes the European Parliament to ensure more democratic oversight, according to MEPs who will visit Dublin today.

One of the co-chairs of the group has asked why the troika insisted on making changes to Ireland’s social structures when the country’s economic problems were created by the banking sector.

The MEPs tasked with investigating and producing a report on the role of the troika in bailed-out countries and how democratic its decisions have been.