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Tuesday 7 February 2023 Dublin: 7°C
AP Photo/Andreas Pechar
# Troika
Fundamental social rights were violated by Troika programmes says EU committee
A public hearing in Brussels yesterday heard from MEPs who stated that the social consequences of Troika policies can’t be ignored.

FUNDAMENTAL SOCIAL RIGHTS were violated by Troika prgrammes in Ireland, Greece, Cyprus and Portugal according to the European Committee of Social Rights (ECSR).

Speaking at a public hearing in Brussels yesterday Peter Stangos from the ECSR said that social rights from the Council of Europe were violated by the programmes with the number of citizens at risk of poverty increasing.

The European Parliament website reports that speakers at the hearing recognised the need to reduce public deficits but pointed out that the policies implemented did not produce the expected economic growth and competitiveness.

“The social side cannot stay out of the Troika programmes analysis. Millions of citizens are victims of those programmes. In order to avoid a fracture between institutions and citizens, there is a need for a democratic dialogue,” said Spanish MEP Alejandro Cercas.

Speakers at the meeting pointed out that Troika policies achieved the opposition effect of what was pledged with hike in unemployment rates, a disproportionate impact on young people, and emigration, which more than doubled in all four countries.

Read: Paying unguaranteed bondholders was unfair, admits former IMF chief >

Read: Troika Translator: What they said and what they meant >

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