EU study criticises troika role in crisis

The troika, set up to oversee austerity programmes in Ireland and other crisis countries, could not get its own house in order and was reluctant to adapt to differing conditions in its client countries, a European Parliament study found.

It recommends scrapping the troika and setting up a European Monetary Fund team taking over the role of the experts in the European Commission, with the ECB present as a silent observer and the IMF being optional.

Any austerity measures should be accompanied by a growth task force and the impact of any measures on all parts of society should be properly considered.