MEPs her­ald end to troika, look to debt re­struc­tur­ing

Kathimerini English - - Front Page -

Mem­ber­sof a Euro­pean Par­lia­ment com­mit­tee in­ves­ti­gat­ing the role of the troika and the im­pact of its poli­cies in Greece yes­ter­day her­alded the end of an “in­terim” in­sti­tu­tion and un­der­lined the need for debt relief if Greece is to emerge from a spi­ral of aus­ter­ity.

Wrap­ping up a two-day visit to Athens, the seven MEPs said the troika had been “nec­es­sary and right” for Greece at the out­set but that “ir­re­spon­si­ble de­ci­sions” had been taken. “We need more trans­parency, more demo­cratic le­git­i­macy,” Oth­mar Karas, the con­ser­va­tive Aus­trian MEP lead­ing the in­quiry, told a press con­fer­ence. French So­cial­ist MEP Liem Hoang Ngoc, de­clared that there was “no le­gal ba­sis for the ac­tions of the troika.” “The time of the troika is over,” he said. Hoang Ngoc added that a debt re­struc­tur­ing was all but in­evitable, not­ing that with­out it, "Greece won’t have the room to ma­neu­ver for less aus­ter­ity." The French MEP also con­tra­dicted com­ments in Par­lia­ment on Wed­nes­day by Karas, ac­cord­ing to which left­ist SYRIZA leader Alexis Tsipras had failed to come up with any sub­stan­tial pro­pos­als dur­ing a meet­ing in Stras­bourg in De­cem­ber. He said Tsipras had of­fered “a de­tailed eco­nomic and so­cial anal­y­sis, as well as pol­icy pro­pos­als.” Later Karas ap­peared to back­track, say­ing “I’m not in­ves­ti­gat­ing Tsipras, I’m in­ves­ti­gat­ing the troika.”

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