The Troika’s variations on a trio: Why the loan programmes worked so differently in Greece, Ireland, and Portugal

Files in This Item:
 File SizeFormat
Downloadgearywp201711.pdf998.46 kBAdobe PDF
Title: The Troika’s variations on a trio: Why the loan programmes worked so differently in Greece, Ireland, and Portugal
Authors: Hardiman, NiamhAraújo, Joaquim FilipeMacCarthaigh, MuirisSpanou, Calliope
Permanent link: http://hdl.handle.net/10197/9573
Date: 17-Oct-2017
Online since: 2018-11-30T10:26:13Z
Abstract: Portugal and Ireland exited Troika loan programmes; Greece did not. The conventional narrative is that different outcomes are best explained by differences in national competences in implementing programme requirements. This paper argues that three factors distinguish the Greek experience from that of Ireland and Portugal: different economic, political, and institutional starting conditions; the ad hoc nature of the European institutions’ approach to crisis resolution; and the very different conditionalities built into each of the loan programmes as a result. Ireland and Portugal show some signs of recovery despite austerity measures, but Greece has been burdened beyond all capacity to recover convincingly.
Type of material: Working Paper
Publisher: University College Dublin. Geary Institute
Series/Report no.: UCD Geary Institute Discussion Paper Series; WP2017/11
Keywords: Loan programmeEurozone crisisConditionalityTroikaEuropean periphery
JEL Codes: E02; E62; G01; H30; H77; H87
Other versions: https://ideas.repec.org/p/ucd/wpaper/201711.html
Language: en
Status of Item: Not peer reviewed
This item is made available under a Creative Commons License: https://creativecommons.org/licenses/by-nc-nd/3.0/ie/
Appears in Collections:Geary Institute Working Papers

Show full item record

Page view(s)

833
Last Week
3
Last month
checked on Aug 15, 2022

Download(s) 50

312
checked on Aug 15, 2022

Google ScholarTM

Check


If you are a publisher or author and have copyright concerns for any item, please email research.repository@ucd.ie and the item will be withdrawn immediately. The author or person responsible for depositing the article will be contacted within one business day.