Friday, July 03, 2015

Who is Troika?


First, the definition is as follows: "Any group of three persons, nations, etc., acting equally in unison to exert influence, control, or the like." Second, why did I ask the question on "Who is Troika?" The answer deals with Greece.  Troika is currently made up of the European Central Bank (ECB), the European Commission (EC), and the International Monetary Fund (IMF).  Troika is a commission that is charged with monitoring the Euro debt crisis.  It, also, is responsible for making recommendations on policies to help solve the Euro debt crisis, so they have a tremendous amount of influence and power. 

Therefore, this is the body that is trying to control the outcome of the Greece debacle. However, the Greek people can decide their own fate this coming Sunday, July 5, with a "no vote" to the terms of the bailout deal as promulgated by Troika. 

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