Read update 'The Troika and financial assistance in the euro area: successes and failures' (coming 19/02)
Three years ago, in May 2010, Greece became the first euro-area country to receive financial assistance from the European Union and the International Monetary Fund in exchange for implementing an economic programme designed by the Troika of the European Commission, the European Central Bank and the IMF. Within a year, Ireland and Portugal went down the same path.
This study provides an early evaluation of these assistance programmes implemented by the Troika in these three countries. The study assesses the economic impact of the programmes and the consequences of their particular institutional set-up.