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Brussels considering liquidation of Troika of international creditors for Greece — source

February 02, 2015, 8:27 UTC+3 BRUSSELS
Brussels might take this step only if the country’s new government confirms the course for budget economy and structural reform
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© ЕРА/FRANK RUMPENHORST

BRUSSELS, February 2. /TASS/. The European Commission is considering the possibility of liquidation of the format of the "Troika" of international creditors for Greece (the European Union, European Central Bank and International Monetary Fund) that is engaged in crediting and in fact, external management of the Greek economy, a European diplomatic source told TASS on Monday. He said, however, that Brussels might take this step only if the country’s new government confirms the course for "budget economy and structural reform."

The "troika" is associated in the country with numerous hardships that the Greek nation had to endure over the past three years. In this connection, the format of the "troika" of international lenders may be abolished and replaced with a new regime of macro-finance dialogue with Athens, but only on the condition of continuation of the budget economy and structural reform course by Greece, the diplomat said.

"This possibility is under discussion," he said.

Greece has been relying on international rescue loans since 2010. It has received 240 billion euro (330 billion dollars) in international loans. In exchange, Athens has implemented harsh austerity programmes. The measures have forced people to endure multiple tax increases, along with cuts in pension and salary, in exchange for bailout loans by the troika.

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