In 2010, financial crises in Greece and Ireland threatened the stability of the global financial system, precipitating a series of international rescue packages. This article analyses the negotiations between the so-called ‘Troika’ of the European Central Bank, International Monetary Fund, European Commission and the Greek and Irish authorities. It will begin by examining and theorising the role of the ‘Troika’ in international economic negotiations. It will argue that the Troika can act cohesively and effectively during international negotiations because of way in which institutional design channels states’ interests. It will test this argument by analysing the bailout negotiations with Greece and Ireland.
