The Troika--past and future? A view from Washington
The Troika of the European Commission, European Central Bank, and International Monetary Fund, has “bailed out” troubled euro-area members—Greece, Ireland, Portugal, and Cyprus. This ad hoc arrangement announced in 2010 by the Eurogroup attempted to resolve a defect in the euro-area economic architecture—the no bail out provisions. The Treaty for the European Stability Mechanism states that the EC in liaison with the ECB and whenever possible (emphasis added) the IMF shall set and monitor compliance with policy conditionality. Currently, the IMF and the Euro-group do not agree on official debt forgiveness for Greece. What lies ahead for the Troika collectively and individually? Has this arrangement work effectively for Europe? For the rest of the world? Russell Kincaid, a PEFM associate and former senior IMF official, will provide his Washington-based perspectives.
Date: 19 October 2015, 17:00
Venue: St Antony's College, 62 Woodstock Road OX2 6JF
Venue Details: Seminar Room, European Studies Centre, 70 Woodstock Road, Oxford OX2 6HR
Speaker: Russell (Kincaid)
Organising department: European Studies Centre
Organisers: David Vines (Balliol College, University of Oxford), Adam Bennett (St Antony's College, University of Oxford)
Organiser contact email address: julie.adams@sant.ox.ac.uk
Hosts: David Vines (Balliol College, University of Oxford), Adam Bennett (St Antony's College, University of Oxford)
Part of: Political Economy of Financial Markets Programme
Booking required?: Not required
Audience: Public
Editor: Julie Adams