An article published on Friday by the British financial magazine “The Economist” exercises harsh critic on the representatives of Greece’s creditors, comparing the troika to the mythical three-headed hellhound Cerberus.
“In Greek mythology, Cerberus is the three-headed dog guarding the gates to Hades. In modern Greek politics, the troika is the three-headed monster that traps the country in an economic underworld,” mentions the article, while addressing the immediate need to change the operational framework of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB) task force, both in Greece and on a European level.
In order to point out the hatred shown to troika, the article reveals that in Athens even the cleaning ladies in the Greek finance ministry shout “murderers” at the visiting troika officials, while in Lisbon banners like “f**k the troika” are often seen.
“As guardian of the creditors, the troika was never going to be loved,” writes the magazine, noting that the task force’s role is being increasingly questioned lately. “Is the monster ripping too much living flesh from the countries it is supposed to be saving? And who controls the beast anyway?” questions the magazine.
In the ongoing inquiry on the role of the Troika, Greece provides the most “bitter” remarks, as the unemployment reaching 27 percent and the growing recession are pretty good reasons for that, says the article.
The Economist also reveals the Greek PM’s “inner thoughts.” Antonis Samaras believes that the International Monetary Fund is very pessimistic concerning Greece’s finances, having the intention to put pressure on Germany. Meanwhile, he is said to have urged the Troika not to expect too many things from Greece “lest its demands boost the radical left-wing SYRIZA party, which leads the opinion polls.”
According to The Economist, Germany and the European Commission seem to be pleased with the reforms undertaken in Greece. For the IMF, on the other hand, the major concern is still the long list of structural reforms, which have not been yet put through.
The Economist states, “If the Europeans really want to keep SYRIZA out of power, the best answer would be to quickly forgive a big chunk of debt.”
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