The Troika Oversight at a Crossroads

In the previous years, several European states were forced to apply for financial support and in turn had to accept the agenda-setting and evaluation of the Troika. This constellation, consisting of representatives of the European Commission, the European Central Bank and the International Monetary Fund devised the adjustment programs, which clarified the policy conditionality for the financial support. In countries such as Spain or Greece, the austerity measures championed by the Troika have led to recession and unemployment, but up until now have been carried out by the respective governments. With the rise of SYRIZA to power in Greece and its vocal dismissal of the Troika's authority, this setting looks to be rearranged. My contribution would assess how the path undertaken by the new Greek government reshapes the political influence of the Troika.