European Parliament to probe troika role

It’s accountability time for the troika, according to members of the European Parliament who plan toinvestigate just how they carried out their jobs in the four programme countries, including Ireland, over the past three years.

While there is no doubt that the plans have produced much higher than expected increases in unemployment and government debt and loss of national wealth — 8.4% in Ireland and 18/% in Greece — the troika’s methods will be under the spotlight.

The members of the parliament’s powerful economics committee will visit Ireland, Greece, Portugal and Cyprus, to talk to ministers, bankers, civil servants, trade unions and the troika themselves, explained MEP Gay Mitchell.