Role and operations of the Troika with regard to the euro area programme countries:
- extracts from MEP's debate
EPRef96019 //European Parliament , Strasbourg, EP Plenary session, Hemicycle //
Lieu: European Parliament , Strasbourg, EP Plenary session - Hemicycle
End production: 12/03/2014 First transmission: 12/03/2014
Following presentation of the report by Othmar Karas, and Liem Hoang Ngoc , MEP debated on the results of the inquiry on the Troika.
The report acknowledges the challenges the Troika faced and the results it achieved in a critical situation. However it also underlines the internal problems that the Troika set-up has had. The three institutions involved - the European Commission, International Monetary Fund (IMF), European Central Bank (ECB) - do not have equal responsibility and their decision-making structures came with different levels of accountability, said the report.
Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
||Exterior view of the European Parliament, Strasbourg
||SOUNDBITE (German) Michael THEURER,(EPP, DE)," We from the control Committee would like to see that the FME should be accountable to the European Parliament."
||SOUNDBITE (German) Helmut SCHOLZ, (GUE,DE)," Nothing is more important that human dignity, no political aim justifies us forcing people to live in misery and poverty. This ECON report comes out with a clear "NO". I am delighted to hear that a vast majority of members of the Committee voted in favour of a position which times well with the ECON report. This position is as follows, the institutions of the EU are bound by EU law whatever they do. EU law is not a tool box where you pick and choose which tool you want to use."
||SOUNDBITE (Portuguese) Regina BASTOS (EP, PT)," We do have to learn the lessons for the future to make sure these things don't happen again in the future. We have to focus on more transparency, greater democratic participation, and a creation of a permanent and effective European Crisis management mechanism which will allow not just to detect where economies are worsening in Member states but also allows to take preventive actions. ."
||SOUNDBITE (English) Elmer COSTELLO (S&D, EI), "Ireland has lost one quarter of its 20-29 year old since 2009 and these reports confirm that the Troika gave no consideration to the social impact of the policies in Ireland , Portugal, Greece and Cyprus. And indeed the Irish government that took office in 2011 came up against enormous resistance from the Troika in trying to maintain a threshold of decency and social services or reversing the cut of minimal wage."
||SOUNDBITE (English) Elmer COSTELLO (S&D, EI), " I welcome the fact that these reports took some of my amendments on board . It's important to recognise that the private losses of Irish banks were unfairly placed on the shoulders of Irish tax payers in order to minimise the risk of contagion across the Euro area as a whole."
||SOUNDBITE (English) Nils TORLVALDS (ALDE, DK)," In other fields and mainly healthcare we stressed tested banks but we did not stress test the health systems, the pension systems or any other deeply necessary EU systems so we have a hell of a work to do ahead of us."
||SOUNDBITE (French) Philippe LAMBERTS (Greens/EFA, BE)," You can't have irresponsible debt without in the one hand irresponsible borrowers but on the other hand of the equation irresponsible lenders. This crisis has now left us with the most fragile members of the society carrying the price. All of this happened in the total absence of democratic scrutiny. I heard the Commission clearly say that the formal structure of democratic scrutiny exists what I would say however is that when you forced to negotiate with a pistol, against your head, you can really make free choices."
||SOUNDBITE (Dutch) Jan Derk EPPINK (ECR, BE)," There are some good ideas, for example setting up a permanent President for the Euro group. I think it is an appropriate suggestion. I am delighted that we do have the ideal candidate for this post here with us today so turning to you Commissioner Rehn I wish you every success for your European ambitions. You can indeed count on my support."
||SOUNDBITE (Greek) Nikolas CHOUNTIS (GUE, EL)," European citizens know only too well that the Troika and the austerity policy don't go in one direction only, in fact they weren't anything else but an excuse to impose austerity measures and line the pockets of the richer."
||SOUNDBITE (French) Jean Paul GAUZES, (EPP, FR)," We have to ensure that at European level we have a genuine mechanism for political scrutiny with clearly defined lines of power and responsibility. This authority would be responsible for defining the mandate of the Troika. This mandate should reflect not only the need to consolidate financial situation of member states which is indispensable while at the same time laying the ground for economic growth which is so necessary."
||SOUNDBITE (French) Pervenche BERES, (S&D, FR)," In terms of the work that the Troika has done.I am deeply saddened by the fact that the community method has been ignored and it's been a three way democracy with no democratic legitimacy whatsoever. this is a mandate that was established behind closed doors with no kind of transparency led by Mr Juncker in the Euro group and then by Mr Dijsselbloem.
||Cutaways ( 4 SHOTS)