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Published on Feb 26, 2015
To get the loans they need to deal with the crisis, European states must comply with the requirements of three key institutions that make up the troika: the International Monetary Fund (IMF), the European Commission (EC) and the Central Bank (ECB). Here is an enlightening investigation into the controversial role of the troika. Five years since the states of the Eurozone crisis live the horrors of over-indebtedness. To get the loans they need urgently, they must comply with the requirements - the famous memoranda - three leading institutions that form the troika: the International Monetary Fund (IMF), the European Commission (EC) and the Bank European Central Bank (ECB). The austerity measures they have imposed so far have not had the expected positive effects, on the contrary.
These are officials, acting without parmementaire control, making decisions, governments must then run. To better understand this process, the German business journalist Harald Schumann (author of When Europe saves its banks, who pays? Broadcast by ARTE in 2013) visited Ireland, Greece, Portugal, Cyprus, Brussels and the United States. During this exciting investigative work, he interviewed ministers, economists, lawyers, bankers, victims of the crisis and the Nobel Prize for Economics in 2008, Paul Krugman, which is why this policy restriction does not.